Connect with us

Analysis

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

Avatar

Published

on

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.

Conclusion

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]





Subscribe to AMBCrypto’s Newsletter




Follow us on Telegram | Twitter | Facebook



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.

Analysis

EOS rises by over 6%; Ripple’s XRP and Ethereum follow suit prompted by Bitcoin’s rally

Avatar

Published

on

EOS rises by over 6%; Ripple's XRP and Ethereum follows suit prompted by Bitcoin's rally
Source: Pixabay

Bitcoin, the largest cryptocurrency by market cap breached the $9,000-mark anchoring another market spin towards the bulls. The collective market cap stood at $285 billion, at press time.

EOS:

Since the onset of 2019, Block.one, the parent firm of EOS had rolled out several significant technological upgrades on its EOS blockchain. Even as the price movement was underwhelming for the most part of the year, the sixth largest digital asset by market cap, EOS gained strong market support. At press time, EOS climbed by 6.11% and stood at a price of $7.13 with a market cap of $6.5 billion. The trading volume recorded for the past 24 hours was $2.55 billion.

Source: TradingView

Ethereum:

With the much-anticipated Ethereum 2.0 blockchain rollout, the second largest cryptocurrency, on CoinMarketCap, garnered gained bullish momentum against the US Dollar. At press time, ETH rose by 3.67% over the past 24 hours and was priced at $275.1. The digital asset registered a market cap of $29.3 billion and a 24-hour trading volume $8.49 billion. Additionally, 4.2% of the trading volume was recorded at ZBG via the trading pair ETH/USDT.

Source: TradingView

Ripple:

Ripple’s focus has always been disrupting cross-border payment space following which the Brad Garlinghouse-led firm introduced new technologies, features, and network updates. Its native token, XRP, significantly leveraged from the recent developments as well as the market recovery steered by BTC.

At press time, the third largest digital coin was valued at $0.42 after posting 3.41% gains in the past 24-hours. XRP held a market cap of $17.92 billion and registered a 24-hour trading volume of $1.5 billion. 4.4% of XRP was being traded at ZBG via XRP/USDT.

Source: TradingView





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending