TronWeekly

Crypto World News

You are here: Home / Archives for XRP Price

XRP Price

XRP Defends Crucial Level Even As Buying Pressure Dips

by

XRP’s downward price action minimized its weekly gains to just 18.78%. The bulls had previously struggled to defend the support area after the market-wide dip which triggered liquidations of positions of almost $2 billion on the 15th of Feb. However, there could be an extended positive streak awaiting.

But, XRP was still down by 0.70% over the past 24-hours and was currently trading at $0.556. The crypto-asset further recorded a market cap of $25.5 billion and a 24-hour trading volume of $9.58 billion.

As opposed to several other top altcoins, XRP has lagged behind for most of the part. The fifth-largest cryptocurrency is yet to see a robust price action to gain fresh momentum if it plans to breach new resistance levels. Will the token aim for a much-awaited rebound?

XRP Daily Chart

XRP

XRP has been one of the most volatile assets in the recent bulls season. After establishing a local top, the crypto-asset took a reverse aiming for the bearish territory.

Its immediate support level has, however, held the coin firmly from further downside price action. The moving averages depicted a positive turn. Just last week, the 50 DMA [PINK] suffered a death cross with the 200 DMA [Purple]. The trend was short-lived as the DMAs flipped positive on the 12th of Feb. The rising gauge between the two DMAs further instilled a ray of hope in the coin’s price.

XRP2

Despite lackluster in the crypto-asset’s price movement, the technicals depicted a bullish picture.

For instance, the continuation of the green closing bars depicted a bullish momentum in the XRP’s price action in the days to come. The MACD, however, was converging with the signal line. If this comes to fruition, the coin could seen diminishing buying demand in the near-term.

The RSI also dropped after hitting the overbought region but appeared to tread steadily quite above the 50-median line which depicted a minor drop in buying sentiment.

So far, the XRP bulls have managed to defend the current area. Hence, the macro trend was still positive. Besides, the coin’s target levels were found to be at $0.631, $0.696, and $0.75 respectively. It was firmly supported at $0.47, $0.34, and $0.25 levels.

XRP Price: XRP’s Bullish Rally Will be Reversed if $0.252 is Not Taken Over

by

XRP’s price movement during the past week has been sluggish. While most of the top digital currencies were exhibiting a significant amount of volatility in their market, XRP’s price did not make too much noise to ascertain a level of enthusiasm. The industry as a whole was now turning a bit bearish with the only Bitcoin holding a higher ground.

Amidst such turmoil, XRP is entering a defining moment in its price charts which may dictate the assets’ direction for the rest of the year. XRP had a market cap of $11.3 billion at press time, with a minor growth of 2% over the past 24-hours.

XRP’s hourly chart

XRP 3 e1600331494984

XRP’s hourly chart exhibited the performance of XRP over the past week and the strength of resistance at $0.254 was for everyone to witness. With XRP slowing reaching its current price point at $0.251, its current ascending channel pattern indicated that the price will possibly plummet in the future. Other bearish factors included the 50-day Moving Average(yellow line) that was moving above the candlesticks at present. With the immediate resistance placed at $0.252, A re-test at $0.222 is the relative outcome over the next few days.

Relative Strength or RSI suggested a brief patch of recovery but selling pressure continued to control its movement and before moving up, a higher probability had the indicator re-test the over-sold position in the charts. Awesome Oscillator or AO also suggested the depleting bullish momentum as the green candles started to fade in the charts.

XRP daily chart

XRP w e1600331523837

The weekly chart of XRP is where things are reaching a critical moment at the moment. Earlier last month, when the asset crossed above its 2-year downtrend, the XRP army exhibited a lot of exhilaration, and they believed that XRP will end up taking over the $1 mark soon. However, after 4-weeks of sustaining a place above the downtrend, the token dipped below the trendline once again.

At the moment, it is important for XRP to reverse the downtrend again if the asset wants to keep its bullish hopes up. Another week below the resistance at $0.254 will be devastating for its long-term trend and XRP could be looking at the bottom of the barrel, come to the end of 2020.

Ripple’s XRP Price Prediction: $0.34 Could be Surpassed After “Golden Cross”

by

Ripple’s XRP is currently a hot topic for the industry. After the decline on 1st August, most of the top assets registered significant dips but XRP has been able to recoup its value at press time. The valuation dropped from $0.32 to $0.25 but at the moment, it was worth around $0.30.

With the market consolidating all around, XRP might be heading towards another positive breakout in the charts. CoinmarketCap indicated XRP’s market capitalization to be at $13.75 billion, with a trading volume of $2.3 billion over the past 24-hours.

XRP Daily Chart

XRP tron e1596632569981

A couple of positives can be taken from the above chart of XRP. Firstly, the token successfully moved past the resistance at $0.22 in the charts after a bullish Adam and Eve pattern was recognized in the market. An adam and eve chart pattern is a long-term shape that usually signifies the positive growth of a token. After moving past $0.22, the breach past $0.246 and $0.284 seemed like a formality for XRP.

However, after the recent collapse of 1st August, the rally was halted between the range of $0.284 and $0.340. At the time of writing, it seemed like XRP is probably going to stop at its current range but keeping an eye of the 50-day moving average, there is a possibility, the token is on its way above $0.340.

The chart exhibits the movement between 50-day Moving Average and 200-day Moving Average and considering 50-day MA moves above 200-day MA, a golden cross will be completed. The bullish momentum received from the golden cross might ignite XRP’s movement again, allowing the token to go above $0.340.

XRP hourly-chart

XRP tr e1596632621257

Now, according to the one-hour chart, XRP continues to face resistance at $0.325 as Fibonacci resistance is strong at this point. Direct support at $0.288 suggested that a move below this range will be considered bearish.

For XRP, it is important to maintain a price above the support, so that the current build-up towards the completion of the Golden Cross is not abrupted by a sudden drop in price.

XRP Price Prediction: Overhead Resistance Continues to Restrict XRP Under $0.211

by

The digital asset has been riding a bullish wave over the last few days. Bitcoin was leading the industry charge, and the major altcoins were following on its cue. XRP wasn’t really far behind in terms of registering growth, but the conundrum remains common in the charts. Specific resistance continues to be its trading dilemma as the 4th largest asset struggled to breach above the range.

At press time, XRP was valued at $0.205 with a market cap of $9.23 billion.

XRP 12-hour chart

XRP

As observed in the charts, over the past two months, XRP has exhibited a bullish breakout after the price mediated within a descending channel for a period of time. The channel formed during the month of June had a longer time frame, whereas the channel pattern in July witnessed a quicker bullish breakout.

However, both times the price surge was shunted by a common overhead resistance. The 200-Moving Average(Orange Line) restricted XRP’s price hike again during the recent hike, as the price attained corrections at the time of writing.

The resistance of 200-MA is proving to be a strong barrier, stopping the price on four different occasions in the last few months. However, a consistent re-test is also a good sign for the token, as the asset is measuring its way to eventually breach past it. Now, considering that the asset is able to maintain its position between $0.211 and $0.200 over the next few days, XRP ‘s chances of crossing $0.211 will improve in mid-August. A drop below $0.200 puts the ball back in the bear’s court.

XRP 1-hour chart

XRPP

Although maintaining a position between $0.211 and $0.200 is appealing, it is important to note that the most active trading range for XRP has been between $0.195 and $0.200 since May. Hence, the higher bearish pressure is most likely to bring it down XRP to that range of $0.201 and $0.195.

XRPPP

According to indicators, the Relative Strength Index or RSI remains on the favorable side of the bulls. If the buying pressure maintains a position above 50 index, there is a higher chance of consolidation above $0.200.

MACD remained bullish for XRP as the signal line(orange line) lagged behind the MACD(blue line) at the time of press.