- Ripple price levels remain in a positive trend and fall below the resistance level on Friday’s trading session
- XRP price today is $0.3223 which is down -8.77% in the last 24 hours and 34.81% up from last week
- XRP/BTC pair is also performing negative with an overall loss of -5.96% in Friday’s trading session (0.00000773)
On the weekly chart, Ripple is reflecting a bullish trend. The price went down at $0.2158 on Jan 2, 2021, due to the heavy selling pressure. After breaking above the resistance zones created in the past week, the price went up to $0.3653 on Jan 7, 2021, forming a 7 day high, providing an overall return of 69.28% to its investors within five days. The XRP/BTC pair is in the negative trend with a value of 0.00000773 BTC (-5.96%)
XRP Technical Level Suggests Selling In The Coin
The weekly technical chart of Ripple highlights a bullish trend built by the coin. XRP was trading above the resistance zone on Jan 7, 2021, and fell below the resistance on Jan 8, 2021, reflecting a bearish movement in the coin. The price currently trades at $0.3223 below its resistance of $0.3342 and the following support zone of $0.2681. If it breaks above the current resistance, we might expect the revival of bulls.
If we dive into the weekly chart’s 30-minute time frame, a dark cloud cover candle is formed, which indicates a selling signal in the coin.
Concerning the Relative Strength Index (RSI), 52 indicates that the coin is in a neutral phase. After forming a descending parallel channel from Jan 7 and going down from the overbought to a neutral zone.
Meanwhile, the Moving Average Convergence Divergence (MACD), had a bearish crossover signal line on Friday’s trading session indicating a selling signal in the coin. The trend remains negative due to the overall market conditions. The histogram has also started to form a few tiny red bars after the crossover.
The Schaff Trend Cycle Indicator (STC) of 61 displays a selling sign in the coin on Friday’s trading session.
Ripple (XRP) drops below the resistance level of $0.3342. All technical indicators suggest it will soon break the support level if more bears enter the coin. We can further see a bearish trend until support level of $0.2681 for the upcoming trading sessions.