XRP has retraced on its chart over the last few days although the coin had attempted to head upwards, the bulls tired out.<\/p>\n
XRP at the moment has secured $0.30 as a strong support level. Price of the asset has to rise above its immediate resistance over the upcoming trading sessions in order for the bulls to take charge.<\/p>\n
If the coin fails to sustain the current price level, a fall beneath $0.30 is just a matter of time. Technical outlook for the coin painted mixed signals on the chart.<\/p>\n
Some of the indicators hinted towards a rise in bullish price action.<\/p>\n
Over the last 24 hours the coin depreciated by 4.4%, invalidating most gains XRP logged in the past week. Sellers continue to dominate the market however, buyers were also trying to re-enter as the current price has created a demand zone for the asset.<\/p>\n
For XRP to negate its bearish thesis, strength from the broader market will be required. The global cryptocurrency market cap today is $955 Billion with a 3.1% negative change in the last 24 hours.<\/p>\n
XRP Price Analysis: Four Hour Chart
\n XRP was priced at $0.33 on the four hour chart | Source: XRPUSD on TradingView<\/p>\n
The asset was trading at $0.33 at press time. It was trading very close to the $0.30 support line. Invalidating the same will push price of XRP to $0.28. If XRP trades for a considerable time over the $0.33 price level, the XRP might attempt to trade near $0.34 and then at $0.37.<\/p>\n
If XRP manages to topple over the $0.37 price mark then it might be able to retest $0.43. Volume of XRP traded fell in the previous trading session indicating that buying pressure has fallen on the chart. This marked bearish pressure on XRP\u2019s chart.<\/p>\n
Technical Analysis
\n XRP was registered increased selling pressure on the four hour chart | Source: XRPUSD on TradingView<\/p>\n
XRP\u2019s buying strength remained low, the same was reflected on the Relative Strength Index. RSI was parked below the half-line and it meant that selling pressure was more than buying pressure.<\/p>\n
In accordance with the same, the price of XRP was below the 20-SMA line signifying that sellers were driving the price momentum in the market.<\/p>\n
Going by the Fibonacci retracement levels, there is rigid resistance between the 38.2% and 23.6% levels respectively. Support level for the coin was at the $23.6% line for the digital asset.<\/p>\n
Related Reading | Why Peter Brandt Thinks Cardano\u2019s Price Is The Definition Of \u201cUgly\u201d<\/p>\n
XRP displayed sell signal on the four hour chart | Source: XRPUSD on TradingView<\/p>\n
The technical outlook painted a mixed signal. Chaikin Money Flow which depicts the capital inflows and outflows was positive. The positive CMF is a sign of increase in buying strength. The small uptick on the RSI corresponds to increased capital inflows.<\/p>\n
Awesome Oscillator indicated price momentum and reversal in the price trend. AO flashed red histograms which was indicative of a sell signal. At press time however, AO displayed a single green bar but it was too early to say if XRP will be bullish over the immediate trading sessions.<\/p>\n
Related Reading | Ethereum Liquidations Ramp Up As Price Struggles To Hold $1,100<\/p>\n
\u00a0<\/p>\n
Featured image from InvestorPlace, chart from Tradingview.com<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
XRP has retraced on its chart over the last few days although the coin had attempted to head upwards, the bulls tired out.<\/p>\n
XRP at the moment has secured $0.30 as a strong support level. Price of the asset has to rise above its immediate resistance over the upcoming trading sessions in order for the bulls to take charge.<\/p>\n
If the coin fails to sustain the current price level, a fall beneath $0.30 is just a matter of time. Technical outlook for the coin painted mixed signals on the chart.<\/p>\n
Some of the indicators hinted towards a rise in bullish price action.<\/p>\n
Over the last 24 hours the coin depreciated by 4.4%, invalidating most gains XRP logged in the past week. Sellers continue to dominate the market however, buyers were also trying to re-enter as the current price has created a demand zone for the asset.<\/p>\n
For XRP to negate its bearish thesis, strength from the broader market will be required. The global cryptocurrency market cap today is $955 Billion with a 3.1% negative change in the last 24 hours.<\/p>\n
XRP Price Analysis: Four Hour Chart
\n XRP was priced at $0.33 on the four hour chart | Source: XRPUSD on TradingView<\/p>\n
The asset was trading at $0.33 at press time. It was trading very close to the $0.30 support line. Invalidating the same will push price of XRP to $0.28. If XRP trades for a considerable time over the $0.33 price level, the XRP might attempt to trade near $0.34 and then at $0.37.<\/p>\n
If XRP manages to topple over the $0.37 price mark then it might be able to retest $0.43. Volume of XRP traded fell in the previous trading session indicating that buying pressure has fallen on the chart. This marked bearish pressure on XRP\u2019s chart.<\/p>\n
Technical Analysis
\n XRP was registered increased selling pressure on the four hour chart | Source: XRPUSD on TradingView<\/p>\n
XRP\u2019s buying strength remained low, the same was reflected on the Relative Strength Index. RSI was parked below the half-line and it meant that selling pressure was more than buying pressure.<\/p>\n
In accordance with the same, the price of XRP was below the 20-SMA line signifying that sellers were driving the price momentum in the market.<\/p>\n
Going by the Fibonacci retracement levels, there is rigid resistance between the 38.2% and 23.6% levels respectively. Support level for the coin was at the $23.6% line for the digital asset.<\/p>\n
Related Reading | Why Peter Brandt Thinks Cardano\u2019s Price Is The Definition Of \u201cUgly\u201d<\/p>\n
XRP displayed sell signal on the four hour chart | Source: XRPUSD on TradingView<\/p>\n
The technical outlook painted a mixed signal. Chaikin Money Flow which depicts the capital inflows and outflows was positive. The positive CMF is a sign of increase in buying strength. The small uptick on the RSI corresponds to increased capital inflows.<\/p>\n
Awesome Oscillator indicated price momentum and reversal in the price trend. AO flashed red histograms which was indicative of a sell signal. At press time however, AO displayed a single green bar but it was too early to say if XRP will be bullish over the immediate trading sessions.<\/p>\n
Related Reading | Ethereum Liquidations Ramp Up As Price Struggles To Hold $1,100<\/p>\n
\u00a0<\/p>\n
Featured image from InvestorPlace, chart from Tradingview.com<\/p>\n
<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-3206","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/3206","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=3206"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/3206\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=3206"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=3206"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=3206"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}