The Market Periodical
  • Home
  • Markets
  • Opinion
  • Cryptocurrency
  • Blog
Contact Us
  • Login
The Market Periodical
  • Home
  • Markets
  • Opinion
  • Cryptocurrency
  • Blog
Contact Us
The Market Periodical
Home News

XRP Price Analysis: XRP price Rebounded after Testing 50-DMA while trying to defend 20-SMA

Pratik Chadhokar by Pratik Chadhokar
May 12, 2021
in News
0
XRP
214
SHARES
1.6k
VIEWS
Share on FacebookShare on Twitter
  • XRP price is presently trying to defend the short term moving average of 20-day, while has shown some selling pressure
  • The coin is trading above vital moving averages of 50, 100 and 200-day, while the volume is continuously decreasing
  • The pair of XRP/BTC is trading negatively with an intraday loss of -0.10%, which is standing at 0.00002593 BTC 
Source:tradingview

XRP price over the monthly chart is presently trying to defend a short term moving average of 20-days while finding good support of 50-DMA. However, the coin in the short term is facing selling pressure at the higher levels, but the medium to long-term trend favours bulls. Similarly, good buying interest is witness near the 50-EMA and a positive rally is seen. Moreover, the volume is continuously decreasing, which needs to increase, for bullish momentum. Support on lower levels is at $1.20 and $0.97; likewise, resistance on the higher side is $1.75 and $2.00. As XRP is in a downtrend and soon a positive rally is expected, which can extend to $1.65 and $1.95 in the short term. 

XRP Projecting a Downtrend

Source:tradingview

Over the weekly chart, XRP Price is projecting a downtrend from the last few trending sessions, whereas the technical parameters favour bears. However, soon we can now expect some positive momentum which can extend to $1.60 and $1.73 in the short term. Moreover, the coin is gradually heading towards the support levels of $1.35 and $1.22, from where we can see a bullish momentum. Currently, the coin is trading at the price level of $1.46 with intraday gains of +2.56%, and volume dropped nearly -29.76%, standing at $7,763,495,093. 

Related articles

TWT

TWT token price analysis: TWT token price has taken bulls by storm.

January 28, 2023
TON Price Analysis

TON coin price analysis: Ton coin price shows immense strength.

January 28, 2023

Relative Strength Index (NEUTRAL) indicates bearish momentum while trading at 45.62. However, XRP, after a selloff, is now looking ready for positive momentum in upcoming trading sessions.

Moving Average Convergence Divergence (MIXED) currently indicates a mixed trend on the daily chart. The seller’s line (red) and the buyer’s signal line (green) are presently overlapping each other, with no sign of clear momentum. 

Support levels: $1.20 and $0.97 

Resistance levels: $1.75 and $2.00  

Get this news hand-delivered to you on Telegram. Join our Telegram for similar News and Information related to CRYPTOCURRENCY, BITCOIN, BLOCKCHAIN NEWS, and Price prediction.

Share86Tweet54
Pratik Chadhokar

Pratik Chadhokar

Pratik Chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and possesses strong technical analytical skills. He is well known for his entertaining and informative analysis of the Financial markets.

Related Posts

TWT

TWT token price analysis: TWT token price has taken bulls by storm.

by Ritika Sharma
January 28, 2023
0

The TWT token price has been on an uptrend for the past couple of days and as a result, the...

TON Price Analysis

TON coin price analysis: Ton coin price shows immense strength.

by Nancy J. Allen
January 28, 2023
0

Ton coin price has been on an uptrend as the coin price bounced off the demand zone.Ton coin price is...

Bitcoin Price Prediction

BTC coin price analysis: BTC coin price is hovering around the supply zone on a daily time frame.

by Ritika Sharma
January 28, 2023
0

The BTC coin price is on a rise after spending quite a lot of time around the long-term demand zone.The...

Internet Computer price Analysis

ICP token price analysis: ICP token price has reversed from the demand zone.

by Antonio K Smith
January 27, 2023
0

ICP token price has bounced off the demand ozone indicating a strong bullish pressure on a daily time frame.The token...

Enjin Price analysis

ENJ coin price analysis: ENJ coin price trades at an interesting level.

by Nancy J. Allen
January 27, 2023
0

The ENJ coin price is trading at the supply zone following the bullish trend in the overall cryptocurrency market. The coin...

Load More
  • Trending
  • Comments
  • Latest

Kadena price analysis: KDA coin is following the upwards trendline after forming the bullish pattern

February 9, 2022
cryptocurrency

AQUA Airdrop is set to Roll out!

January 7, 2022
AMP Price Analysis: AMP Coin Trading in Horizontal Range-Bound consolidates, Will it be able to retain up to $0.088?

Will Amp Token’s Escalating Demand Drive Its Price To $1?

February 21, 2022
MIOTA Price Analysis: IOTA Token Price Struggles To Sustains Higher Than $1 Mark

Firefly Wallet Powered by IOTA, Starts Staking on Shimmer and Assembly Tokens

December 23, 2021
TWT

TWT token price analysis: TWT token price has taken bulls by storm.

0
Bitfinex

Bitfinex Lets Users Earn on their Bitcoin with Celsius

0
Binance Burned the Highest Number of BNB Tokens Till Day Worth $68 Million

Binance Burned the Highest Number of BNB Tokens Till Day Worth $68 Million

0
Cryptocurrency

U.S. Congress Members Have Introduced 40 Bills on the Subject of Cryptocurrencies

0
TWT

TWT token price analysis: TWT token price has taken bulls by storm.

January 28, 2023
TON Price Analysis

TON coin price analysis: Ton coin price shows immense strength.

January 28, 2023
Bitcoin Price Prediction

BTC coin price analysis: BTC coin price is hovering around the supply zone on a daily time frame.

January 28, 2023
Internet Computer price Analysis

ICP token price analysis: ICP token price has reversed from the demand zone.

January 27, 2023
  • Home
  • Contact Us
  • SUBMIT PR

© 2022 The Market Periodical

 
No Result
View All Result
  • Home
  • Markets
  • Opinion
  • Cryptocurrency
  • Blog
  • Contact Us

© 2018 JNews by Jegtheme.

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password?

Create New Account!

Sign Up with Google
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?