- XRP crypto chart shows increasing activity.
- The long/short ratio of XRP crypto is 0.9305 as per Coinglass.
XRP is a cryptocurrency that aims to improve global payments with speed and efficiency. XRP is used by RippleNet, a network of financial institutions that leverage XRP for cross-border transactions.
Despite the 4.08% decline in the trading price, the trading volume of the XRP crypto has advanced by 35.7% in the last 24 hours. The market cap ranking of crypto as per CoinMarketCap is #6.
The market cap value of the XRP token is $28.781 Billion and the value of the traded volume of the crypto in the last 24 hours is $818.096 Million. Also, the volume/market cap ratio of the crypto is 2.80%.
The crypto has a total supply of 99.987 Billion XRP followed by a circulating supply of 54.399 Billion XRP. Also, it has a max supply of 100.0 Billion XRP resulting in a fully diluted market cap of $52.964 Billion.
XRP Crypto Derivatives Analysis
The derivatives trading volume of the XRP token has advanced by 59.55% in the last 24 hours resulting in $724.72 Million. Moreover, the options trading volume has declined by 46.5% while the options open interest has advanced by 15%.
The XRP crypto is trading with a long/short ratio of 0.9425 and the long liquidation for the crypto is much higher resulting in $1.10 Million. Also, the short liquidation recorded for the crypto is worth $11.99K.
XRP Crypto Technical Analysis
The price of the XRP crypto is taking support in a dynamic trendline on the lower side but based upon the current price action, the crypto price is forming bearish candlesticks highlighting the possibility of further decline in the price.
If the price of the crypto breaks below the dynamic support, further lower levels in the XRP token price is likely.
XRP/USD Chart by TradingView
Following a bearish crossover of the 20-Day and the 200-Day EMAs the trading price of the Ripple crypto is declining steadily to lower levels, indicating a downtrend on the daily chart.
The MACD is also giving a strong sell signal on the chart as the MACD and the signal line are trading below the zero level forming bearish histograms.
The RSI is also consistently sustaining below the 50 level and is currently trading at a level of 33.72. Moreover, the value of the RSI is also trading below the 14-Day SMA which is currently trading at 41.40.
Summary
The XRP price is forming bearish patterns and may break below the dynamic support. The technical indicators show a strong downtrend and a lack of buying pressure. The crypto has seen more long liquidation than short liquidation.
Disclaimer
This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.