- XRP price trailing near the strong supply zone and gains momentum from the lower levels or 20-day moving avenger line
- The 6th largest crypto asset has given a breakout from the bullish flag pattern and is currently placed above 20, 50, 100, and 200-day lines.
- The pair of XRP/BTC is trading at 0.00002568 BTC with an intraday gain of +1.95%, and the ratio of XRP/ETH is CMP at 0.0003329 ETH with a 24-hour change of +0.20%.
XRP price over the monthly chart formed a bullish chart structure and now reaches the significant supply zone. Whereas the crypto asset is now trying for a positive breakout above the vital supply zone. Currently, Ripple price is trading above the major moving averages of 20, 50, 100, and 200-day lines with below-average volume action.
Volume needs to improve to suppress its supply zone on the higher side and to clear its resistance of $1.35. If the coin manages to sustain 20 and 50-DMA lines with supportive volume action will help XRP bulls to Climb higher. Support on the lower side is at $1.04 and $0.93, whereas resistance on the higher side is $1.36 and $1.64.
XRP price is trading under the sideways channel pattern
XRP price over the weekly chart is trading under the sideways channel pattern, while it needs momentum to break out of the range. At the 4-hour time frame, the crypto asset is trading under the tight range, whereas it gains support from the lower end and faces resistance at the higher side. The technical setup is projecting a mixed trend over the chart with a bullish or optimistic bias. Presently, the XRP price is trading at $1.26 with an intraday change of +1.69%, and the volume to market cap ratio is at 0.0929.
Relative Strength Index (CAUTION): XRP price RSI presently indicates caution with a positive trend over the weekly chart. In contrast, the RSI is trading near the overbought zone after a solid recovery from lower levels and now CMP at 65.
Moving Average Convergence Divergence (NEUTRAL): This currently indicates a neutral trend on the daily chart. The buyer’s signal line (blue) is heading towards the seller’s line (orange), and crossover will create a bearish trend.
Support levels: $1.04 and $0.93
Resistance levels: $1.36 and $1.64.