- The trading volume of XRP Coin in the last 24hr at the time of writing this article is -5.12%
- The price of XRP/BTC and XRP/ETH at the time of writing this article is 0.00001973 BTC and 0.0003142 ETH
- Price is near the Resistance and taking support of the 50MA.
LONG TERM VIEW:-
In the daily chart interval, we can see that the price cannot break the Resistance as the bears are putting immense pressure to take the price down, but the bulls are also not ready to give up the fight. We can see the long wick, which means the bulls are trying to push the price up. Let’s look at the technical analysis to see if the price will break the Resistance or not. First, we can see the MACD showing green histograms as the MACD line is above the signal line, but the MACD line has started to change its direction, which means the MACd line will cross the Signal line in a bearish trend. In addition to that, we can see the RSI is in the neutral zone near 53.92, and the RSI is pointing towards the oversold zone, which means the Seller is pushing the price down. Lastly, we can see the moving average 20MA is below the 50MA, which is bearish, but 20MA and 50MA are above the 100MA.
SHORT TERM VIEW:-
In the 4hr time interval, we can see a descending triangle pattern which is a very bearish pattern. The MACD line shows a red histogram as the MACD line is below the signal line, and there is no sign that the line will change its direction. In addition to that, we can see RSI is in the neutral zone near 44, and the RSI line is pointing towards the overbought area of 70, which means the bulls are winning the fight. In the end, we can see that the 20MA and 50MA are above 100MA. We can see the 20MA is changing its direction and may head towards the 50MA and cross it soon.
Looking at both long term and short term, we can see the trend might be bearish because of the 4hr time interval. We can see there is a descending triangle pattern which is a bearish sign. The MACD is supporting it. Also, the RSI is in the neutral zone, which can go up or down depending on the volume. And in the long term, we can see the price cannot break the Resistance, which means the bearish is not letting the bulls win and might push the price down to the support.