- Investors of XRP are waiting for the(mention nature of momentum) momentum in the coin as trading in the ascending triangle pattern with rising support
- The pair of XRP/BTC is trading in green with minor gain of 0.34%, standing at 0.00003269 BTC
The monthly chart of Ripple (XRP) is in bullish momentum as making the new 52-week high of $0.7680. However, the profit booking pulls the price to the price level of $0.4620, which will now act as the support level. On observing the monthly chart on the 4-hours time frame, the ascending triangle pattern is formed, and the coin is trading under it with the low of $0.4620, and the rising support supports the bullish movement of XRP. The moving average of 9 & 21-DMA gives a positive crossover on 50-DMA. However, it comfortably manages to sustain above 50-DMA, indicating the positive momentum is still left in XRP.
On the lower hand support is at $0.4680 and $5200, whereas the 50-DMA is currently training at the price level of $0.6050. The higher side’s resistance is placed at $0.6720, and $0.7680 will be considered the firm resistance for the coming trading sessions.
On analyzing the daily chart, XRP is consolidating in the range of $0.6350 and $0.6020 highs and lows, respectively. The rising support supports the sideways movement of XRP. The price of XRP is trading at the level of $0.6180 with a minor gain of +1.80%, and over the weekly chart, it +10.43%.The coin trades with the volume in the last 24-hours of $12,053,369,340, and the total market capitalization stands at $28,003,083,899.
The Relative Strength Index (RSI) is trading flat at 45.09, indicating no significant movement in coming trading sessions.
Directional Movement Index (DMI) the -DI suppresses the +DI line indicating the bearish momentum.
Moving Average Convergence Divergence (MACD) is heading for a negative crossover as the Bear’s line (red) suppresses the Bull’s line (green), indicating the bearish momentum for the short term.
Support levels: $0.4680 and $5200
Resistance levels: $0.6720 and $0.7680
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