Despite the recent sluggishness of XRP, the token is performing significantly better compared to\u00a0other coins. The bulls successfully defended the $0.3 support and tried to reverse the trend by breaching above the crucial resistance.<\/p>\n
As the price has not fallen following a false breakout, this indicates that the\u00a0bulls may be stronger than the\u00a0bears. Thus, the volume has increased, which is a positive indicator.<\/p>\n
As of this writing, XRP is trading at $0.364, up 12% in the last seven days, data by Coingecko show, Monday.<\/p>\n
Suggested Reading | CEL Token Seen Making A Recovery Despite Celsius Going Bankrupt<\/p>\n\n
Image – The Coin Republic
\nXRP Straight Green Candles<\/p>\n
Ripple has registered three consecutive green daily candles, and purchasers were able to increase the price by 15 percent till Friday evening. The primary concern, though, is whether this rally is sufficient enough to halt the intermediate-term bearish trend.<\/p>\n
On a daily scale, buyers drove the price towards the short-term horizontal resistance at $0.4, attempting for a third time to breach the key breakthrough.<\/p>\n
The 14-day RSI indicator entered positive territory and surged past\u00a0the baseline at this time. This means that the bulls are now more dominant than they were previously.<\/p>\n
Ripple has not been able to achieve a higher daily high for a quite a\u00a0long time. Since May this year, sellers have kept the\u00a0bulls from surpassing the previous peak (in yellow).<\/p>\n\n
Imge – TradingView.com<\/p>\n
In order to begin a trend reversal, XRP must first establish a higher high above $0.4. In this instance, bearish momentum could eventually begin to diminish.<\/p>\n
The bulls should then barrel past\u00a0the horizontal barrier between $0.50 and $0.55 (in blue) before retesting the falling trendline (in red).<\/p>\n
Overcoming the red static barrier that has been shading the price for a considerable amount of time might be a very bullish indicator for the token.<\/p>\n
Global Crypto Market Cap Up 1.35%<\/p>\n
According to data from CoinMarketCap at the time of writing, the worldwide market capitalization of cryptocurrencies increased by 1.35 percent during the previous 24 hours, reaching approximately $980 billion.<\/p>\n\n
XRP total market cap at $17.6 billion on the daily chart | Source: TradingView.com<\/p>\n
The 24-hour volume of the worldwide cryptocurrency market declined 1.7% to $61 billion, while the 24-hour volume of DeFi was $5.55 billion, representing 9.0% of the global crypto market.<\/p>\n
The volume of all stablecoins was $55.63 billion, or 90.72 percent of the 24-hour volume of the whole crypto\u00a0market.<\/p>\n
Currently, XRP is seeing resistance at the 50-day moving average. If there is a breakthrough, it will mark the\u00a0first time since March 9 this year.\u00a0Prior to a potential reversal, however, the price must first consolidate above the key resistance between $0.48 and $0.52.<\/p>\n
Suggested Reading |\u00a0ApeCoin Performance Lags Behind Other Altcoins \u2013 Here\u2019s What Happened To APE<\/p>\n
Featured image from The Merkle News, chart from TradingView.com<\/p>","protected":false},"excerpt":{"rendered":"
<\/p>\n
Despite the recent sluggishness of XRP, the token is performing significantly better compared to\u00a0other coins. The bulls successfully defended the $0.3 support and tried to reverse the trend by breaching above the crucial resistance.<\/p>\n
As the price has not fallen following a false breakout, this indicates that the\u00a0bulls may be stronger than the\u00a0bears. Thus, the volume has increased, which is a positive indicator.<\/p>\n
As of this writing, XRP is trading at $0.364, up 12% in the last seven days, data by Coingecko show, Monday.<\/p>\n
Suggested Reading | CEL Token Seen Making A Recovery Despite Celsius Going Bankrupt<\/p>\n
Image – The Coin Republic
\nXRP Straight Green Candles<\/p>\n
Ripple has registered three consecutive green daily candles, and purchasers were able to increase the price by 15 percent till Friday evening. The primary concern, though, is whether this rally is sufficient enough to halt the intermediate-term bearish trend.<\/p>\n
On a daily scale, buyers drove the price towards the short-term horizontal resistance at $0.4, attempting for a third time to breach the key breakthrough.<\/p>\n
The 14-day RSI indicator entered positive territory and surged past\u00a0the baseline at this time. This means that the bulls are now more dominant than they were previously.<\/p>\n
Ripple has not been able to achieve a higher daily high for a quite a\u00a0long time. Since May this year, sellers have kept the\u00a0bulls from surpassing the previous peak (in yellow).<\/p>\n
Imge – TradingView.com<\/p>\n
In order to begin a trend reversal, XRP must first establish a higher high above $0.4. In this instance, bearish momentum could eventually begin to diminish.<\/p>\n
The bulls should then barrel past\u00a0the horizontal barrier between $0.50 and $0.55 (in blue) before retesting the falling trendline (in red).<\/p>\n
Overcoming the red static barrier that has been shading the price for a considerable amount of time might be a very bullish indicator for the token.<\/p>\n
Global Crypto Market Cap Up 1.35%<\/p>\n
According to data from CoinMarketCap at the time of writing, the worldwide market capitalization of cryptocurrencies increased by 1.35 percent during the previous 24 hours, reaching approximately $980 billion.<\/p>\n
XRP total market cap at $17.6 billion on the daily chart | Source: TradingView.com<\/p>\n
The 24-hour volume of the worldwide cryptocurrency market declined 1.7% to $61 billion, while the 24-hour volume of DeFi was $5.55 billion, representing 9.0% of the global crypto market.<\/p>\n
The volume of all stablecoins was $55.63 billion, or 90.72 percent of the 24-hour volume of the whole crypto\u00a0market.<\/p>\n
Currently, XRP is seeing resistance at the 50-day moving average. If there is a breakthrough, it will mark the\u00a0first time since March 9 this year.\u00a0Prior to a potential reversal, however, the price must first consolidate above the key resistance between $0.48 and $0.52.<\/p>\n
Suggested Reading |\u00a0ApeCoin Performance Lags Behind Other Altcoins \u2013 Here\u2019s What Happened To APE<\/p>\n
Featured image from The Merkle News, 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-3618","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\/3618","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=3618"}],"version-history":[{"count":0,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/3618\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=3618"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=3618"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=3618"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}