- The trading Volume in the last 24hr at the time of writing this article is +3.47%
- The price of XRP/BTC and XRP/ETH at the time of writing this article is 0.00002285BTC and 0.0003251ETH respectively
- The price taken support on the 100MA
LONG TERM VIEW:-
Looking for the daily chart time interval as we can see that the XRP price has taken the support on the 100MA. Looking at the other technical indicator we can see that MACD is showing a red histogram, meaning the MACD line is below the Signal line but we can see the MACD line has changed its direction. There might be a chance where the MACD line can cross the Signal line in a positive direction. In addition to that we can see that RSI is in the neutral zone near the 44, meaning the price can go up or down. In the last we can have a look at the Moving average we can see the 20MA is crossing 50MA in a downward direction which is a bearish sign.
SHORT TERM VIEW:-
When looking at the 4hr time interval we can see the opposite of what we saw in the daily chart. We can see that the MACD is showing green histogram, meaning the MACD line is above the signal line and there is no sign of the line changing there direction. Having said that we can see the RSI is in the neutral zone near the 53, meaning the price can go up or down. On the other hand we can see the 20MA and 50MA is below the 100MA and 20MA is below 50 MA and the price is already has already broken the 20MA and heading towards the 50MA.
Looking at both long term and short term, we can see that the momentum is bearish in the long term but there has been a change in the technical indicator which is showing a bullish trend as the MACD and RSI is showing buyers are pushing the the price up and up and it has broken the $1 mark. But the big question is will the price sustain it depends on the Volume of the bulls as the indicators are showing a bullish momentum.
RESISTANCE:- $1.0560, $1.1326