Home
News
- 1 XRP crypto price is currently trading at $0.51346 with a drop of -1.81% in the last 24 hours with a current market cap of $27.185 Billion.
- 2 XRP crypto price decreased by -27.82% over the past month showing bears’ dominance.
- 3 XRP vs. SEC case takes a turn as attorney John E. Deaton points 2018 SEC Memo.
XRP vs. SEC takes a turn after attorney John E. Deaton points out that a 2018 SEC memo is essential to exonerate Ripple’s XRP sales. This memo is essential and describes that there will be no punishment for Ripple regarding XRP sales.
Moreover, attorney John Deaton is ready to fight the SEC regarding the overturning of the decision of Judge Torres. John Deaton, supporting XRP, changed his focus to a speech by William Hinman who previously worked for the SEC. The speech was about how to apply the Howey Test, which is a way to tell if something is a security, to XRP.
The price action of the XRP crypto showed that selling pressure was noted on the charts and was in a downtrend, forming lower lows over the past few months. Furthermore, trading volume has been below average in recent times. Moreover, XRP showed a decrease in user activity which also reacted as a negative sentiment for the crypto and led to bearishness in the charts.
At present trend favors bears, and the crypto was also in a corrective phase, which made buyers cautious. Moreover, the XRP breaks the significant moving averages and tries to attain the 200-day EMA to hold the gains.
Currently, the XRP price is trading at $$0.51346 with an intraday loss of -1.90%, showing a bounce from the lower trendline near the support mark of $0.51029. Moreover, the intraday trading volume decreased by -4.00% to $3.093 Million and the the market cap is $27.144 Billion.
XRP has had a good performance over the start of the year but the current trend flipped out. Year-to-date, it gave positive returns of 51.53% and 33.72% in the span of 6 months. In the last 1 month, it gave a negative return of -27.92% and -2.21% that eats up the previous gains.
Technical Analysis of XRP Crypto Price in 1-D Timeframe
At the time of publishing, XRP crypto is trading below the 50 and 200-day DMAs (Daily moving averages), which do not support the price trend.
The current value of RSI is 32.74 points. The 14 SMA is above the median line at 32.08 points which indicates that the XRP crypto is bearish.
The MACD line at -0.03211 and the signal line at -0.03202 are above the zero line. A bearish crossover is observed in the MACD indicator which signals more bearishness for the XRP crypto price.
Summary
XRP technical indicators also reinforce the bearish trend. The MACD, RSI, and EMA are emphasizing negative signs and imply that the downtrend may continue in the XRP crypto price. XRP price action suggests that the investors and traders are bearish on the 1-D time frame. The price action reflects a bearish perspective at the moment.
Technical Levels
- Support Levels: The most immediate support levels for the XRP crypto price are $0.45400 and $0.21099.
- Resistance levels: The most immediate resistance levels for the XRP crypto price are $0.94400 and $1.19099.
Disclaimer
The analysis provided in this article is for informational and educational purposes only. Do not rely on this information as financial, investment, or trading advice. Investing and trading in crypto involves risk. Please assess your situation and risk tolerance before making any investment decisions.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
