Connect with us

Analysis

XRP, Monero and DASH Price Analysis: 05 August

Published

on

Source - Unsplash

As the king coin’s market moved towards recovery, the industry’s altcoins shared the same sentiment in the market. XRP flashed a bullish outlook, while XMR shot up by 6.7% and DASH rested above the support level at press time.

XRP

XRP, Monero and DASH Price Analysis: 05 August

XRP/USD, TradingView

XRP was trying to hold above its support level of $0.68. The indicators reaffirmed the hypothesis that XRP would undergo a slow price action. 

A bearish signal was noticed on MACD with the presence of red histograms. Relative Strength Index fell below, moving into the bearish zone since the beginning of August. At the time of writing, it was again seen below the midline after it registering a recovery just 24 hours back. 

Awesome Oscillator flashed a bullish signal. In the event of an uptrend, resistance lay at $0.77. 

Monero

XRP, Monero and DASH Price Analysis: 05 August

XMR/USD, TradingView

XMR rose 6.7% over the last 24 hours as the coin was priced at $241.52. Parabolic SAR substantiated the uptrend as the dotted lines were aligned below the candlesticks. A bullish outlook was spotted on MACD as the green histograms were noticed at press time. Buying pressure remained considerable in the market despite the fall in Relative Strength Index as the indicator remained above the neutral zone. 

If a price retracement were to take place, then the coin would land on the $232 level. 

DASH 

XRP, Monero and DASH Price Analysis: 05 August

DASH/USD, TradingView

DASH held itself above its support line of $149; the coin rose by 3.8% overnight as the coin stood at $158. It could try testing the $170 resistance mark if it moved in an upward direction; however, a dip could push it down to $149 and then $137. 

Market volatility could remain low as Bollinger Bands showed constricted bands. Both Awesome Oscillator and MACD displayed bullish signals at press time.

Where to Invest?

Subscribe to our newsletter

Anushmita is a full-time journalist at AMBCrypto with a background in Mass Communication. She is inclined towards writing about the socio-political aspects of the crypto market and also has an interest in analyzing market trends.