- The RPL price has been in a strong bearish movement for a long time.
- It is trading at $20.09 with an increase of 13.8% in the last 24 hours.
- The token is down by 86.77% from its all-time high.
The price of the token has been bearish since the last 5 months. During this period, the price has almost fallen by 65%. It made its yearly high of $65 in the middle of April. The token has a negative ROI of 63.7% in the last 6 months and 43.87% in the last 3 months.
It marked its all-time high on 16th November, 2021 when the token was priced at $154.73.
The current trading volume of the token reflects an enormous rise of 600% in the last 24 hours.
It has a present market capitalization of $398.32 Million. The total circulating supply of the token is 19.76 Million. The 24-hour trading volume of the token is 28.78 Million.
Sentiment Analysis
The total market volume of the token has increased by 50.32% in a week. Total social engagements have seen a growth of 419.3% and the total bullish sentiments have increased 67.9%. Overall sentiments indicate that there will be a bullish movement soon in the market of the token. Once the price breaks the bearish trendline, it can start its upward move.
Technical Analysis Of RPL ( Daily-1D )
The RPL price shows that the token has been falling under a bearish trendline, making new lower lows every time. The price recently took support from the support level of $17 and gave an upward movement.
The price can break this trendline soon as the market volume has seen a huge increase. If the price gets above the trendline and crosses above the 50-day EMA, then it will turn bullish and it can give an upward move till $25 or $30.
However, If the price gets rejected again from the trendline, it may fall to the $17 support level or even lower and continue its downward trend.
Until and unless the price gets above the 50-day EMA, the short term movement in the price will remain bearish.
What Indicators Say About RPL Price
Relative Strength Index (RSI)
The RSI line is presently moving at 45.66 points and the SMA 14 is moving at 36.48 points. Both are above the neutral level of 50. The RSI was in the oversold region at the time when the price took support from $17. From there, buying entries were made and the price shot up and the RSI also got a bounce from the oversold region.
Moving Average Convergence/Divergence (MACD)
The fast blue line moving average will soon cross above the red slow line moving average. The histogram is showing low volumes, which is a bearish sign for the price but the daily volume is also increasing which indicates that the volume will soon rise and the price can then go up.
RPL LIVE CHART
Conclusion
The overall analysis of the RPL price shows that the price was in a bearish trend for some time. In a week, the volume has started to increase and the price has seen a small upward movement. As soon as the price breaks above the bearish trendline, it can start a bullish move.
Technical Analysis
- Support: $17 and $20.5
- Resistance: $25, $30 and $38
Disclaimer:
The views and opinions stated by the author, or any people named in this article, are for informational purposes only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.