XRP continues to reside in bearish territory - AMBCrypto
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XRP continues to reside in bearish territory

Biraajmaan Tamuly

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Source: Pixabay

XRP, the third-largest coin by market cap was valued at $0.2599 with a positive 1.20% surge in price in the last 24-hours. At the time of writing, XRP had a market cap of $11.17 billion and the 24-hour volume was noted at $1.08 billion. Most of the trading volume came from RightBTC exchange via trading pair XRP/USDT.

1-hour chart

The one-hour XRP chart indicated a sharp downtrend from $0.2803 which extended to $0.2609.The chart showed a resistance line, which stood at $0.2714 and a support line at $0.2533.

Source: Trading View

The Bollinger Bands are seen close to each other, signaling decreased volatility.

Chaikin Money Flow pointer demonstrated that the capital flowing into the market is lesser than the capital flowing out of the market, as the marker remained below the zero-line.

MACD displayed a bearish crossover as the MACD line is seen below the signal line.

1-day chart

The one-day chart of XRP recorded a sharp downtrend, from $0.5079 to $ 0.2634. The chart displayed resistance at $0.4321 and $0.3297 along with support at $0.2534.

Source: Trading View

Parabolic SAR conveyed a bearish market as the markers are seen above the candles.

Awesome Oscillator pictured the appearance of green bars and the bullish momentum was evident.

The Relative Strength Index indicated that XRP was recovering from being oversold.

Conclusion 

The one-hour chart and the one-day chart for XRP both indicated a bearish onslaught as confirmed by the above-mentioned indicators.

Biraajmaan covers market trends of major cryptocurrencies. As a graduate in engineering, his interests lie in Blockchain technology. With over a year as a journalist, his articles focus on US and UK markets.