- 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
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
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.
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