- XRP (BITFINEX: XRP) is currently trading at $0.797 with a rise of +6.79% in 24 hours.
- XRP (BITFINEX: XRP)’s live market cap is $41,927,575,909.
- XRP’s 24-hour volume is $3,344,479,958 which rose by 38.6% in 24 hours.
The cryptocurrency XRP was made by Ripple Labs. It was introduced in 2012 to encourage quick and affordable global money transfers.
For XRP (BITFINEX: XRP), it is clear from the daily timeframe that the price trend for coin has changed significantly, moving in an upward direction.
For the last four months, the price of XRP fluctuated between $0.418 and $0.543. The current situation, however, demonstrates a strong breakout followed by a huge trading volume.
In six trading days, the price of XRP has impressively increased by almost 102% as a result of the recent spike. This sudden price increase has helped to clearly reverse the trend which has resulted in the development of a solid market structure.
The price of XRP is currently very close to a significant resistance level, but given the coin’s increasing upward momentum, it appears quite likely that it will break over this hurdle.
XRP Price Analysis
EMA
On the daily period, the price of XRP is now trading above both the 20-day and 50-day exponential moving averages. This technical signal points to a likely bullish momentum in the XRP market.
MACD
In the daily timeframe, MACD is trading above the signal line. This indicates an uptrend momentum. Currently the MACD is showing a positive momentum and price is likely to rise above in the future.
RSI
The RSI line for the XRP coin is currently above the SMA line, indicating a favorable sign that the price of the coin is likely to increase over the next few days. This upward movement and possible strength in the XRP market are indicated by the bullish crossover of the RSI and SMA lines which may result in more price increase in the future.
Conclusion
According to the XRP price analysis, theXRP coin is moving in the right direction. The “soul” of the coin is rising, signifying increasing strength in XRP. This expression presumably refers to the overall sentiment and vitality of the asset. The thought of a probable increase in the price of XRP is further supported by the fact that indicators like Moving Average Divergence (MAD), Relative Strength Index (RSI), and Exponential Moving Averages (EMA) are all displaying bullish signs.
Technical Levels
- Support – The current support level of the XRP is $0.5388.
- Resistance -The current resistance level of the XRP is $0.849.
Disclaimer
The thoughts and opinions expressed by the author or anybody else included in this post are exclusively for informational reasons. They don’t offer any advice of any kind, be it financial, investment, or otherwise. The possibility of losing money exists while buying, selling, or investing in cryptocurrencies.