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XRP/USD Price Analysis: The bulls take the prices to a short-term rally




XRP/USD Technical Analysis: The bulls take the prices to a short-term rally
Source: Unsplash

The bulls seem to have entered the XRP markets as the price of XRP has been constantly pumping, taking it for a short rally. The current price of XRP at the time of writing was at $0.29 with a market cap $12 billion.

The 24-hour price change of XRP is 1.73% and the trading volume for 24-hour is $442 million, most [$52 million] of the trade volume for XRP is from ZB.COM exchange via XRP/BTC trade pair.

1 Hour

The one-hour time frame shows no uptrends, but a downtrend that extends from $0.3392 to $0.3049. The support for XRP can be seen at $0.2928, while the resistance lines can be seen at $0.3049 and $0.3160.

The Parabolic SAR markers are seen spawning below the price candles which indicates a bullish momentum for the XRP markets.

The MACD indicator is undergoing a bullish cross over as the MACD line has crossed the signal line to the top.

The Awesome Oscillator shows a shift in the color of the bars, which indicates a shift, an increase in the momentum of the prices.

1 Day

The downtrend for the XRP prices in the one-day chart extends from $0.9027 to $0.3276, but there is not clear uptrend visible yet in the longer time frame which indicates that the prices haven’t made any significant moves lately. The support for the longer time frame chart can be seen at $0.2587, while the resistance points can be seen at $0.5836, $0.6880, and $0.9041.

The Aroon indicator shows a rising green Aroon line indicating that the uptrend is in full swing and in control of the XRP markets.

The Stochastic indicator shows a probable bullish crossover just around the corner.

The Chaikin Money Flow shows an increasing greenline trying to cross above the zero-line, indicating that the buyers are coming into the XRP market.


The one-hour chart is lit with bull signals all across the chart as indicated by SAR, MACD, AO indicators. The one-day chart shows a bullish sign with all of its indicators [Aroon, Stochastic, and CMF]

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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.


Bitcoin [BTC]: King coin’s Golden Cross confirmed; Greenspan hints at bullish market




Bitcoin [BTC]: King coin’s Golden Cross confirmed; Greenspan hints at bullish market
Source: Pixabay

Bitcoin’s much-awaited Golden Cross, which many analysts claimed will lead to a resurgence of a bullish market, has been confirmed. The intersection of the 200-day moving average and 50-day moving average, which indicates the Golden Cross, was achieved over the past few hours.

Earlier today, the top cryptocurrency saw a massive rise after days of sideways movement. Bitcoin’s ascendance saw it break the $5,350 resistance level, which eToro’s Mati Greenspan had previously suggested will consolidate “buying pressure.”

Source: TradingView

Additionally, a major psychological level of $5,500 was also surpassed less than three weeks after Bitcoin broke the $5,000 mark.

The Golden Cross theory holds credibility among analysts in the cryptocurrency realm as it infers that the coin’s average price is above its 200-day equivalent. For the first time in over a year, the cryptocurrency market has seen its 50-day MA move above the 200-day MA, which according to many is a sign of a bullish market.

On the opposing side of the Golden Cross indicator is the Death Cross, where two indicators cross over into a bearish market i.e. the 200-day MA moves above the 50-day MA. The Death Cross manifested in April 2018, after the prices went into a free fall following the December 2017 high.

In April 2018, BTC was priced at just over $7,000, following which it lost more than 50 percent of its price by the end of the year. The price of the king coin has recovered exceedingly well in 2019 however, winning back almost 50 percent of its lost value.

Many analysts, including Greenspan, agree that the crossing of the two moving averages is a clear testament to the return of the bull market. Although he didn’t quite use those words, Greenspan tweeted,

“Ladies & Gents… The Golden Cross!
Bitcoin’s 50-day moving average (gold) crossing above her 200-day moving average (blue). 📈
This is yet another sign that we’re back in a🐂market. 🚀🌛”

However, in an exclusive interview with AMBCrypto last week, Greenspan had stated that the Golden Cross theory is a “lagging indicator,” as the Death Cross was last seen in April 2018, months after the market took a bearish turn.

In his view, the 200-day moving average is the key indicator. On April 2, Bitcoin broke this mark for the first time since March 2018, by recording a massive 17 percent daily gain and rising above $5,000.

Based on historic price changes with reference to the Golden Cross, the last time the 50-day MA soared above the 200-day MA, price of Bitcoin rose by over 8000 percent from $246 in October 2015 to almost $20,000 in December 2017. Given past market movements, the current market scenario, and the optimism in the air, the Golden Cross may just have initiated the Bitcoin bull market.

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