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XRP Price Analysis: Coin falls prey to bears as bulls leave coin market

Namrata Shukla



XRP Price Analysis: Coin falls prey to the bears as the bulls leave the market
Source: Pixabay

XRP, the third largest coin on CoinMarketCap, witnessed a bear attack and has been since, trying to recover from it.

At press time, the token was valued at $0.3160, with a market cap of $13.09 billion. The token reported a 24-hour trading volume of $651 million, while it fell by 0.22% over the past day. In the past seven days, XRP noted a rise in price by 2.14%, but dipped by a minimal 0.09% within an hour.


Source: Trading view

Source: TradingView

The one-hour chart for the token marked a minimal uptrend in the price of the coin, from $0.3144 to $0.3195. XRP’s price started falling from $0.3279 to $0.3251, and the token noted resistance at $0.3252. Support was noted at $0.3195.

Bollinger Bands appeared to be converging, indicating a low volatility market. The moving average line of the token was above the candlesticks, marking a bearish market.

Awesome Oscillator marked growing bearish momentum.

Chaikin Money Flow, however, marked a bullish trend for the coin, as the marker line was above the zero mark.


Source: Trading view

Source: TradingView

According to the one-day chart, a massive downtrend was traced from $0.5821 to $0.3251. The token registered a minimal rise in price from $0.2630 to $0.2926, while noting resistance at $0.3397. The coin met with another resistance at $0.4141, and support at $0.2926.

Parabolic SAR marked a bearish market as the markers were aligned above the candlesticks.

MACD line was above the signal line, marking a bull’s market.

Relative Strength Index indicated that the buying and the selling pressures evened each other out.


According to a majority of the indicators like Bollinger Bands, Awesome Oscillator, and Parabolic SAR, a bearish reign was forecast for XRP.

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Namrata is a full-time journalist and is interested in covering everything under the sun, with a special focus on the crypto market.


Bitcoin [BTC] surges above $5,500 and breaks major resistance level; collective market rises




Bitcoin [BTC] surges above $5,500 breaking major resistance level; collective market surges
Source: Pixabay

Bitcoin [BTC] broke out of its sideways trend that saw coins fall after a brilliant start to April. This “break-out” is especially significant since it came days after the coin was trading sluggishly, pulling the market cap below $175 billion.

After breaking the $5,200 level on April 16, the coin held steady, showing no noticeable dips. However, it also began losing the momentum it had gained when it rose by 15 percent on April 2. Many saw the past week as Bitcoin losing steam, opining that a drop to as low as $4,000 would manifest. This pessimism coupled with the delisting dilemma saw the global market decline by 3.31 percent over the past weekend.

Given this backdrop, the present Bitcoin price incline was even more bullish for the collective market. Further, this was not just an effort to shrug off “sideways bears,” but instead, two key levels were broken in order to usher a collective market rise and sustain BTC bullishness.

Source: Trading View


The first, as indicated by eToro’s senior market analyst Mati Greenspan, was the resistance level of $5,350. When Bitcoin began to consolidate following the early April high, Greenspan stated that if the BTC price were to punch above the aforementioned level, it “would likely serve as confirmation that we’re pushing higher and will lead to further buying pressure.”

Greenspan stated that the $5,350 level acted as a major support level throughout 2018. Hence, it is incredibly important that Bitcoin surge above it in the next rise to consolidate buying pressure. Another important point to signal the coming of a bullish market was the 200-day moving average which Bitcoin has stayed above since the April 2 rally.


The other significant level for the collective market is Bitcoin’s ascendance over $5,500, which it managed courtesy of this rally. Many, including Greenspan, pegged $5,000 as a key psychological level for the coin and hence, the rise above $5,500 less than three weeks after $5,000 was broken will bring back optimism to the BTC market.

Further, as was seen in the April 2 rise, the Bitcoin pump resulted in the king coin increasing its market dominance. At the close of March, Bitcoin was edging closer to losing the majority. However, the rally saw its share increase to 52.4 percent within a day. Following this recent 4.61 percent increase against the US Dollar, the king coin’s dominance increased to 53.2 percent.

Given the elasticity of the collective market to changes in Bitcoin’s price, the market was awash in green as Bitcoin broke the resistance and psychological levels. Amid this bullish charge, some coins stood out for their above-average gains, which included Bitcoin Cash [BCH], Cardano [ADA], EOS [EOS], Litecoin [LTC], and the exchange-ousted Bitcoin SV [BSV].

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