- XRP token price witness strong rejection from fib 0.236 ($1.06) and now heading towards the 200-DMA support
- The coin is presently facing difficulty to suppress the 100-Day moving average (MA), and the sideways momentum is expected
- The pair of XRP/BTC is trading on a bearish note at 0.00002445 BTC with an intraday loss of -5.11%, and XRP/ETH is dropped by -2.37% CMP at 0.0003535 ETH
XRP token is trying to overcome the loss but fails to hold 100-DMA and experience strong pullback, extending till 200-DMA. Moreover, the coin witnessed good buying interest near the 200-DMA and now can recover sharply after testing it again. Likewise, after testing 200-DMA and the closing above, it will create an excellent opportunity for buyers.
However, volume interest or traction seems to be lower as it falls below the average line and needs to improve for a good recovery. Support on the lower side is at $0.78 and $0.65; while, a resistance level is $1.10 and $1.25.
XRP Token is Projecting Weakness in Short Term
The weekly chart of the XRP is projecting weakness after a good recovery and now can retest previous lows. Likewise, the cryptocurrency can build a double bottom pattern, and other technical parameters are favouring bears. Presently, the XRP token is trailing near its 24-hours lows at $0.87, dropped by -13.67% in an intraday trading session. Similarly, the volume to market cap ratio stands at 0.1316, and the coin is standing at 7th position, according to coinmarketcap.com.
Relative Strength Index (CAUTION): XRP token RSI is presently projecting bearish or caution momentum over the weekly chart.
Moving Average Convergence Divergence (CAUTION) currently indicates a bearish trend on the daily chart. The buyer’s signal line (green) is weaker than the seller’s line (red) after the negative crossover.
Support levels: $0.78 and $0.65
Resistance levels: $1.10 and $1.25.