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Analysis

XRP/USD Price Analysis: Bears feast on coin as bulls abandon market

Namrata Shukla

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XRP/USD Price Analysis: Bears feast on coin as bulls abandon market
Source: Pixabay

The second largest cryptocurrency, XRP, has been going through a tough bearish phase recently. The market has been seeing a rough patch as a whole, with the only coin soaring being Stellar Lumens [XLM].

At press time, XRP was valued at $0.3125 with a market cap of $12.9 billion. The 24-hour trading volume of the token was $855 million. The coin noted a growth of 0.81% over the past day. In the last seven days, the token plunged by 1.45% and was dipping by a minuscule 0.30% over the hour, at press time.

1-hour

Source: Trading view

Source: Trading View

The one-hour chart of XRP indicated an uptrend from $0.3222 to $0.3266, followed by a downtrend from $0.3266 to $0.3200. The token drew resistance at $0.3266 and support at $0.3143.

Bollinger Bands marked a bearish trend as the moving average line aligned over the candlesticks. The bands had diverged, indicating a volatile market.

Awesome Oscillator pointed towards a weakened bearish trend.

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

1-day

Source: Trading view

Source: Trading view

According to the one-day chart of XRP, an uptrend was seen from $0.3465 to $0.5639, followed by a downtrend from $0.5821 to $0.3397. XRP marked resistance at $0.4141 and support at $0.2895.

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

MACD line was over the signal line and marked a bearish market.

Chaikin Money Flow pointed to a bearish market as the marker line remained under the zero-line.



Conclusion 

On the one-hour chart and the one-day chart, the indicators Bollinger Bands, Awesome Oscillator, Parabolic SAR, MACD, and Chaikin Money Flow forecasted a bearish reign for the coin.





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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.

Analysis

XRP vs Stellar Lumens [XLM] Price Analysis: Bears stall coins’ bullish momentum

Yash Rajan

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XRP vs Stellar Lumen [XLM] Price Analysis: XRP and XLM bulls stalwart bears
Source: Pixabay

Ripple’s XRP saw a huge amount of capital being transferred yesterday and was ranked third on CoinMarketCap, with a market cap of $16.258 billion, at press time. According to CoinMarketCap, XRP was priced at $0.386 and had a 24 hour trading volume of $1.664 billion. It surged by 4.07% over 24 hours.

Stellar Lumens [XLM] stood ninth on the top-10 cryptocurrencies with a market cap of $2.438 billion. XLM was priced at $0.126 with a 24 hour trading volume of $474.116 million. XLM rose by 3.96% over the past 24 hours.

1-Day XRP

Resistance lines stood at $0.458 and $0.402 and supports were at $0.311 and $0.285. XRP saw an uptrend over the course of six months from $0.364 to $0.459. XRP also drew a downtrend over the past two weeks from $0.457 to $0.391.

Source: TradingView

Source: TradingView

Parabolic SAR markers were above the candles and indicated a bearish environment for the coin.

Moving Average Convergence/Divergence [MACD] indicator suggested an imminent bearish crossover

Relative Strength Index indicator showed that the buying and selling pressures had evened each other out

1-Day XLM

Stellar Lumens [XLM] saw an uptrend from $0.126 to $0.142. Resistance lines stood at $0.143 and $0.127 and support lines stood at $0.741 and $0.115.

Source: TradingView

Source: TradingView

Bollinger Bands pointed towards increment in volatility.

Awesome Oscillator indicator presented a bullish buying opportunity. However, bearish pressure was seen over the last few histogram bars.

Chaikin Money Flow indicator showed that the money flowing into the market was greater than the money flowing out of the market.



Conclusion

Both XRP and XLM seemed to have stalled in the face of bearish pressure, after posting some bullish gains.





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