Connect with us

Analysis

XRP/USD Technical Analysis: Bears take over as bulls find no respite

Avatar

Published

on

XRP/USD Technical Analysis: Bears take over as bulls find no respite
Source: Unsplash

XRP, the second largest cryptocurrency by market cap, has been doing well considering the number of partnerships Ripple has been making.

The price of XRP at the time of writing was $0.3338, the market cap of XRP is at $13.70 billion. The 24-hour trading volume is at $455 million and a majority of this volume is contributed by ZB.COM via trade pair XRP/BTC.

1 Hour

Source: TradingView

The one-hour chart for XRP shows an uptrend that extends from $0.3207 to $0.3272, while the downtrend ranges from $0.3379 to $0.3860. The prices are being supported at $0.3205 while the resistance points are seen at $0.3426 and $0.3860.

The Parabolic SAR markers are formed below the price candles which indicates a bullish pressure on the price.

The MACD indicator shows a bullish crossover that is underway and there is a probability that this crossover could completely go over the zero-line.

The Awesome Oscillator shows a bullish crossover as well, as the green bars have crossed over to the top of the zero-line.

1 Day

Source: TradingView

There is a very small uptrend that extends from $0.2931 to $0.3215 while the uptrend ranges from $0.9027 to $0.3731. XRP prices got very close to the support at $0.2627, while the resistance points were at $0.5821, $0.6899, and $0.9027.

The Aroon indicator shows a strong downtrend in play as the Aroon red line has hit the 100-line. The Aroon green line that indicates uptrend has collapsed.

The Chaikin Money Flow indicates that the buyers for XRP have fled and the sellers have taken control of the market as money is flowing out of the market.

The Relative Strength Index shows a negative stance for XRP as the RSI line is just below the 50-line. The selling momentum for XRP in the longer one-day time frame is larger as compared to the buy-momentum.



Conclusion

The one-hour chart for XRP is lit green and with bullish indications as indicated by MACD, SAR and AO indicators. The one-day chart for XRP shows a rather bleak stance for XRP as the indicators Aroon, CMF and RSI show a bearish pressure and increasing sell-momentum.





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

XRP vs Stellar Lumens [XLM] Price Analysis: Bulls suppress bears to push market forward

Yash Rajan

Published

on

XRP vs Stellar Lumens [XLM] Price Analysis: Bulls suppress bears to move forward
Source: Pixabay

XRP, the third largest cryptocurrency, was priced at $0.383 agfter falling 1.87% over the 24 hours, according to CoinMarketCap. XRP held a market cap of $16.121 billion and registered $1.29 billion in 24-hour trading volume for XRP.

At press time, Stellar Lumens [XLM] was priced at $0.125, after falling 1.56% over the past 24 hours. It stood ninth on the top 10 list with a market cap of $19.302 billion and $844.41 million in 24-hour trading volume.

1-Day XRP

XRP saw an uptrend from $0.331 to $0.461 and a downtrend from $0.461 to $0.388. Resistances were at $0.458 and $0.420. Support lines were located at $0.371 and $0.285.

Source: TradingView

Source: TradingView

Parabolic SAR presented a bearish trend as the markers were above the candles.

Moving Average Convergence/Divergence [MACD] indicator was undergoing a bearish crossover.

Relative Strength Index showed a relatively overbought status for the coin.

1-Day XLM

On the one-day XLM chart, the resistance line stood at $0.143 and the support lines stood at $0.115 and $0.091. It saw an uptrend from $0.133 to $0.141. XLM also saw a downtrend from $0.142 to $0.125.

Source: TradingView

Source: TradingView

Bollinger Bands displayed an increase in volatility in the market as the bands were diverging.

Awesome Oscillator presented a bullish buying opportunity.

Chaikin Money Flow indicator was above the zero-line, indicating that money was flowing into the market.



Conclusion

XRP saw a fusion of bullish and bearish trends while XLM sides with the bulls after being stalled by bears for the past one month.





Subscribe to AMBCrypto’s Newsletter


Continue Reading

Trending