- XRP price is now trying to bounce back after a sharp selloff and has built a bullish candlestick pattern over the monthly chart
- The token over the monthly chart is trading below all vital moving averages of 20, 100, and 200-DMA, while 20 and 200-DMA is about to cross each other
- The pair of XRP/BTC is training positively with intraday gains of +0.80% at 0.00001914 BTC; whereas, the ratio of XRP/ETH is at 0.0003312 ETH gains over +2.34% in the last 24-hours
The monthly chart of XRP price is trading on a bearish note despite some recovery from lower levels. However, the token is trying to recover from lower levels but missing its strength as trading under the bearish zone. Similarly, the digital asset is trading below the major moving averages of 50, 100, and 200-Day.
Likewise, the 20-DMA is about to cross 200-DMA, which is a bearish sign for the XRP. Volume is recorded lower or near the average line and needs to improve in upcoming trading sessions. The real strength of the coin is above the sustainability above 200 and 20-day moving average with good volume support. Levels of $0.51 and $0.44 will be acting as a support level; while, resistance on the higher side is at $0.78 and $0.94.
XRP Price is Trying to Recover after a Downtrend
XRP price over the 4-hours time frame is trying to recover after a continuous downtrend, with a slight increment in volume traction. The digital asset Bulls are now trying to push the coin higher with the support of technical parameters. Moreover, the buying or recovery is not much power, and Bulls may get trapped. Presently the coin is trading at $0.65 with an intraday loss of -0.28%.
Relative Strength Index (NEUTRAL): XRP price RSI presently projects neutral or slight positive momentum over the weekly chart. In contrast, the RSI is indicating little positive momentum at 48.
Moving Average Convergence Divergence (BULLISH) currently indicates a bullish trend on the daily chart. The buyer’s signal line (green) is more significant than the seller’s line (red).
Support levels: $0.51 and $0.44
Resistance levels: $0.78 and $0.94.
