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XRP/USD Technical Analysis: Prices remain bearish over the long-term

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XRP/USD Technical Analysis: Prices remain bearish over the long-term
Source: Unsplash


XRP is getting cozy in that second position after stealing it from Ether [ETH]. The prices for XRP, at the time of writing, was trading at $0.3765 with a market cap of $15.18 million, just below Bitcoin [BTC].

The 24-hour change for the currency was lit up with green and showing an increase in the price by 4.17%, while the 24-hour trade volume reflected at $419 million.

1-hour

Source: Trading View

The uptrend for XRP in the one-hour time frame extends from $0.3388 $0.3603, while the downtrend ranges from $0.4955 to $0.3767. The support for XRP is seen at $0.3381, while the resistance points are spread out at points $0.4040, $0.4270, and $0.4614.

The Parabolic SAR markers show a bullish trend for the XRP prices in the one-hour chart as they have formed below the price candles.

The MACD line has crossed over the signal line in a bullish crossover and the histogram shows the same.

The Awesome Oscillator shows a bullish crossover occurring as the green lines have stepped to the top of the zero-line.

1-day

Source: Trading View

The uptrend for XRP in the one-day chart ranges from $0.2707 to $0.3643. The prices for XRP are finding support at $0.2627, while the resistance points are set up at $0.5821 and $0.6859.

The Bollinger Bands are in an expanded state indicating the influx of volatility. The price candles, however, have dipped below the simple moving average and moved towards the oversold zone.

The Aroon indicator shows the faster rate of decrease of the uptrend as compared to the downtrend.

The Stochastic indicator shows a series of crossovers which are currently in the bottom, i.e., in the oversold zone.

Conclusion

The indicators in the one-hour chart for XRP are all showing bullish presence in the market. The one-day chart is quite opposite to that of the one-hour chart and as indicated by the Bollinger Bands, Aroon and the Stochastic, it is bearish.





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