- The current price of XRP is currently at $0.4373 with a decline of 2.48% during the intraday trading session.
- The pair of XRP/BTC pair is currently at approximately 0.0000154 BTC, decreasing by around 3.47% in the last 24 hours
- The XRP is moving above the Daily Moving Average of 20,50,100,200 days
The Ripple market is experiencing a sudden upward momentum, leading to speculation on whether this trend will continue. The XRP has experienced a sudden upward momentum, indicating a reversal of the previous bearish trend. The bears previously controlled the market, but the bulls have now taken over and are implementing new strategies to ensure continuous growth. The coin has gained a drastic upward momentum now the sellers are attempting to get into the trade.
Currently, the price of XRP is approximately $0.4373, with a decrease of approximately 2.48%. The XRP/BTC pair is currently at approximately 0.0000154 BTC, decreasing by around 3.47%. The buyers are getting involved in the trade, causing an increase in the price and indicating that the bulls’ strategies are working. The price could reach up to the primary resistance of $0.4692, and the price might reach the secondary resistance of $0.5352. If the bulls continue to implement their plans, the XRP will break the backbone of the bears and rise to new heights. If the bears try to accumulate the market of XRP the price may reach the primary support of $0.3584. It might also drop up to the secondary support of $0.3307
The slightly moving volume indicates that the buying pressure is increasing, and the sellers are no longer in control. The volume increased by approximately 48.08% during the intraday trading session. Ripple has worked hard to reach this upward momentum, and the bulls have successfully pushed the movement of the currency. The bears have tried to manipulate the token market, but the bulls’ efforts have been successful.
Technical Analysis of XRP
The technical indicator shows the following: The Relative Strength Index is in the overbought region. It seems that the RSI might get reversed towards neutrality. The investors of XRP relied on the bulls to fulfill their expectations. XRP investors are eagerly waiting for any directional change over the chart.
The MACD and MACD signal have intersected giving a positive crossover. The current RSI is 62.59 which is below the average RSI of 49.62.
Conclusion
The current market trend of Ripple is Bullish the drastic boost in the price of the coin has gained the attention of investors. The current price of XRP is approximately $0.4373, with a decrease of approximately 2.48%. The seller has to put in some extra effort to get into the trade. The RSI indicates buyers’ dominance.
Technical Levels-
Resistance level- $$0.4692 and $0.5352
Support level- $0.3584 and $0.3307
Disclaimer-
The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.