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XRP Price Action Changes Direction As Support Suffers

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Cryptocurrency price fluctuations have dominated the ecosystem in the last few days as traders hedged on shorting or longing for their positions. XRP enjoyed a decent July with proponents expecting a rise after the support settles. The cryptocurrency continued to trade above 70 cents with a market cap above $30 billion.

XRP 1 hour:

xrp 1hr

XRP’s hourly chart showed a step-wise climb for the cryptocurrency shorted by the latest bear run. Since the price hike on July 28, XRP’s immediate support had lifted slowly but surely only to be wrecked by the bear. As markets opened on Tuesday, Bitcoin’s price action continued to stay bearish. The lower Bollinger band diverged from its parallel movement indicating a dip in prices.

The Relative Strength Index tried moving away from the oversold zone after crashing towards it yesterday. This slight spike could be attributed to more people buying into the XRP market. The Parabolic SAR markers also sided with the bear with the markers staying below the price candles.

XRP 1 day:

xrp 1 d

Long-term readings for Ripple’s cryptocurrency looked better than the hourly charts as a majority of the indicators blinked green. The Parabolic SAR for the daily charts stayed under the markers pointing to a clear shift in momentum.

Although the Relative Strength Index fell over the past week, it was still closer to the overbought threshold than it has been in over 90 days. Once users HODL their XRP, the buying pressure will only increase. In the long-term scenario, the Bollinger bands diverged strongly from one another. After displaying 5 consecutive green candles, XRP users were looking forward with bated breath for the next run.

XRP fights back against the bear as altcoin prices take a hit

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XRP and its counterparts in the cryptocurrency market have gone through a tumultuous time which included price fluctuations and changes in market cap. Although major players like Bitcoin hit a bearish stop, XRP continued its surge to climb to the 6th position on the charts. Bitcoin at the same time was falling by approximately 5 percent in the hourly spectrum. 

At press time, XRP was trading for $0.72 with a total market cap of $33.54 billion. The cryptocurrency’s 23.5 percent weekly growth elevated its daily trading volume to $3.55 billion. Many analysts expect XRP to slow down soon to settle into a stagnant price movement. 

XRP 1 hour:

xrp 1 hr 2

Price variations across the board played a pivotal role in boosting XRP’s credentials on the charts. The latest immediate support was raised to $0.69 after a change in buying sentiment. 

XRP’s RSI leaned towards the bearish spectrum as the selling pressure overtook the market.

Short-term CMF performed better than the RSI with the graph staying above the zero lines. 

Only the PSAR sided with the bull. The markers continuously stayed below the candles as the buying momentum increased. 

XRP 1 day:

xrp 1 d 1

In the long term, XRP had fallen into a stagnant price movement. A lack of resistance breaks forced the cryptocurrency into a lull with immediate support at 0.55. 

Long-term PSAR mimicked the hourly charts as the markers pushed the candles up. 

The RSI and CMF were both bullish on the daily chart. According to the RSI, more users held XRP thereby increasing the overall selling pressure. The RSI showed that the capital coming into the XRP market was more than the capital leaving the market. 

XRP retreats from its bullish momentum as bears come in strong

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Hello volatility, my old friend. XRP joins cryptocurrencies like Cardano [ADA], Dogecoin [DOGE], and an array of other coins in welcoming the bear. Even though the largest cryptocurrencies Bitcoin [BTC] and Ethereum [ETH] were also harboring the bear, they experienced dainty changes in price.

At press time, BTC was trading for $39K while ETH was priced at $2,294. Quite often, the market cap of these assets tends to depreciate during the bear market, however, this time, BTC held on to the $700 billion level.

Over the last couple of days, XRP noted a massive push in the upward direction. The altcoin managed to amass notable gains. At the time of writing, the asset was trading for $0.70 with a 4.17 percent drop over the last 24-hours. During the previous seven days, XRP managed to bag gains of over 22 percent which was the highest after Bitcoin.

XRP gave up its position as the third-largest coin long ago. But the asset remained in the top ten. At press time the altcoin’s market cap was at $32 billion which further gave the asset the 6th rank.

XRP one-hour price chart on Binance

XRP

The short-term price chart of the altcoin was seen amassing a bear troupe. The long candlestick noted in the above chart indicated the massive surge in the asset’s price from a low of $0.63 all the way to a high of $0.72.

The Parabolic SAR indicator laid out dotted lines over the candlesticks which further suggested a bearish momentum. This line acted as a barricade against any possible uptrend. The MACD indicator mirrored this sentiment. The MACD line slowly sunk below the signal line which proposed a bearish crossover.

The Relative Strength Index [RSI] revealed a neutral sentiment in the XRP market. This was derived by the RSI marker that was seen residing exactly at the 50 median.

With all these indicators siding with the bear, the chances of XRP surging were bleak.

XRP Rules the Roost as Double-Digit Gains Elevates Cryptocurrency Market

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XRP’s price action over the past few weeks has been similar to the rest of the market: bearish traps followed by slight bullish signals. As July comes to a close, however, the digital asset industry has gained a strong foothold in the green zone. XRP’s surged in the last seven days to post a 7-day gain of 31.2 percent. At press time, XRP was trading for $0.72 with a total market cap of $33.172 billion. The weekly gain elevated the daily trading volume to $5.113 billion after an increase in buying pressure. 

XRP also boomed in the hourly spectrum after posting a rise of 17 percent. This increase was complemented by a bullish sentiment shared by the rest of the cryptocurrency market. Technical analysis of the cryptocurrency showed a marked increase in performance and coin peripherals. The three indicators in question: RSI, CMF, and PSAR, sided with the bull in the short term and the graph rocketed up. 

XRP 1 hour:

xrp 1 hr 1

XRP’s new resistance of $0.73 was a cause of celebration for the XRP cadre after having suffered in bearish territories earlier.

The Parabolic SAR stayed below the markers as the pressure caused the price candles to stay in the green. 
According to the RSI, the crypto-asset was well and truly in the overbought zone. This meant that more users were amassing XRP in the portfolio rather than selling it. 
Even though the Chaikin Money Flow indicator, was in the green, it showed an affinity towards the zero line

XRP 1 day:

xrp 1 d

It was good news all the way for the token in the long term as all the corresponding indicators leaned towards the bull. As the immediate supports rectified themselves, it was apparent to see why the cryptocurrency was performing well on the charts. 

The CMF in the long term had shot up to settle near the overbought zone. An increase in buy-in pressure proved to be the kicker here. 

Although its RSI had a difficult June, it rose sharply in the past few days to stay on course for an overbought zone breach. 

The PSAR helped the coin along its bullish path as the markers gave the cryptocurrency a solid foundation. This was primarily due to an increase in conversations around cryptocurrencies and their use cases. 

XRP risks major collapse as price nears 1-month low

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Several top cryptocurrencies retreated as the cumulative market cap fell to $1.29 trillion. XRP was also going through a period of underperformance that has extended its weekly loss to 10.29%. The squeeze in volatility depicted a period of stagnancy in the coin market which was trading sideways. The buying pressure is significantly weaker.

XRP was still down by 0.52% over the 24-hours and was being traded at 0.52%. At the time of writing, the crypto-asset registered a market cap of $26.98 billion and a 24-hour trading volume of billion.

XRP Daily Price Chart

XRP2 1

XRP sustained a death cross after its 50 DMA [Pink] moved below the 200 DMA [Yellow] on the 19th of June. This was accompanied by the digital token’s price which gradually spiraled down. Interestingly, this is the first death cross in five months. The 100 DMA [Yellow], on the other hand, continued to hover above the price candlesticks resisting any upward price action The ill-fated volume continued to impede the asset’s growth which was trapped inside the rangebound for almost a month.

A case of a steep decline could very much be on the cards.

Metrics goes for a toss after death chart

XRP3

The Chaikin Money Flow [CMF] fell from the bullish territory depicting a decline in capital inflow to the coin market. The Klinger Oscillator [KO] was also on the verge of a bearish crossover. The Relative Strength Index [RSI] was also nearing the extreme oversold conditions.

Immediate support is at $0.54, a level that was last seen almost a month back. If the bulls fail to defend this area, XRP could slash half of its gains to test another support level of $0.21.

Looking at the behavior of the above charts, there were no hints for a bullish reversal as volatility in the coin market faded. The moving averages acted as XRP’s overhead resistance levels at $0.75, and $1.03 respectively.

XRP gasps for air as bears start to crowd its market

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Even though XRP had quite a rough start to the year, it managed to buckle up and get in on the ride. However, the asset was seen getting destroyed by the bear, similar to all the other existing coins in the market.

The chances of Bitcoin [BTC] slipping to $30K weren’t very bleak as the bears were taking over the market. At press time, BTC was trading for a low of $31,444. Ethereum [ETH] ended its stay over $2K and dropped down. The altcoin endured a loss of about 11% just this week.

XRP managed to stay in the top ten while its price took a drastic hit. At the time of writing, the altcoin was trading for $0.59, with a 3.03% dip in the last 24-hours. Throughout the week, the coin managed to linger near $0.60, but the bear managed to pull the altcoin below that price range.

In addition to this, the altcoin’s market cap was at $27.49 billion, which allowed it a complimentary stay in the top ten as the sixth largest cryptocurrency.

XRP one-hour price chart on Binance

XRP

The short-term price chart of the altcoin announced the bear’s presence as all the indicators inclined towards the same. The Awesome Oscillator indicator used in the chart laid out red closing bars, which affirmed a bearish momentum. The Chaikin Money Flow indicator was deep in the bearish arena as the marker was close to the negative 0.20 median.

The Money Flow Index indicator suggested that there was no significant buying or selling activity in the short-term chart of the XRP market.

Alongside this is the Ripple vs. SEC case that is still ongoing. Bloomberg revealed that Ripple could now question the official that was previously involved in the case. This was considered a significant boost to the case that is still in court.

William H. Hinman, the former director of the SEC’s Division of Corporation Finance, would be under the court’s purview. In a recent hearing, the U.S. Magistrate Judge Sarah Netburn stated,

“This is not a run-of-the-mill SEC enforcement case.” [Even though the case wouldn’t open “flood gates” the case] “involves significant policy decisions in our markets, the amount in controversy is substantial and the public’s interest in this case is significant.”

XRP reverses its trajectory slashing ~8% as the market sheds billions

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XRP and the rest of the cryptocurrency market took a major tumble falling below crucial support levels. The entire cumulative market cap lost a hundred billion dollars. XRP was in the deep red zone as its weekly losses amplified to 6.58% due to the biggest market correction of Q3 2021.

The crypto market valuation dumped to a daily low of $1.38 trillion.

XRP has been one of the strongest performers lately. However, over the past 24-hours, it depreciated by 7.52% and was currently priced at $0.621. At the time of writing, the crypto-asset registered a market cap of $28,70 billion and a 24-hour trading volume of $2.31 billion.

XRP Daily Price Chart:

XRP

XRP’s recovery failed to decisively overcome the nearest resistance level as the bears stepped up. In a matter of hours, selling intensified the downward pressure and the digital asset took reversal. The candles declined further from the moving averages that hovered above them.

The 50 DMA [Pink] sustained a bearish crossover with the 100 DMA [Blue] in the third week of June following which the token tested a key support area. According to the above chart, a death cross appears to be inevitable, which could signal a massive retreat in the near term.

The low volume could further catalyze the downtrend in the coin market.

XRP2

The dotted markers of the Parabolic SAR settled below XRP price candles despite the tumble. However, the Klinger Oscillator [KO] appeared to be at the cusp of a bearish crossover as the coin shed all of its weekly gains. The Relative Strength Index [RSI], on the other hand, turned down from the 50-median line and was moving towards the oversold conditions.

The above charts depicted a bearish phase for the coin that might not stop anytime soon. Hence, the crypto-asset could potentially revisit the $0.544 support area which if breached could propel a drop to $0.40, and $0.24 subsequently.

Contrarily, the resistance levels for XRP were found to be at $0.73, $ 0.81, and $1.06 respectively

XRP drowns in the red sea; $1 to remain a dream for a while?

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XRP made the headlines this year for all the right as well as the wrong reasons. Ripple’s fallout with the United States Securities and Exchange Commission [SEC] left XRP thrown out of several prominent cryptocurrency exchanges. This being done amidst the crypto rally caused the altcoin’s investors’ a lot of loss. This downtrend didn’t last for long.

XRP emerged as a prominent coin despite the hardships it faced during the beginning of the year. The altcoin soared over $1 and was even making its way on to $2. This significant journey was, however, disrupted by the bears. Similar to all the cryptocurrencies in the market, XRP succumbed to the bear.

At the time of writing, the altcoin was trading for $0.67, with a 1.85% drop in the last 24-hours. This dip was comparably dainty as all the other coins were enduring a much more significant loss. The asset managed to bag profits of about 6% over the previous couple of days when the entire market was painted green.

In addition to its price, the market cap of the coin was $31 billion. Even though the altcoin dropped down from the 3rd rank all the way to the 7th rank, it remained in the top ten.

XRP one-hour price chart on Binance

XRP

The short-term price chart of XRP reflected a solid bearish momentum. The Bollinger Bands indicator was seen wide apart, noting a slight surge in volatility. This sentiment wouldn’t be considered favorable for the altcoin considering the infiltration of bears. The Awesome Oscillator indicator laid out red closing bars, further confirming the presence of the bear.

The Relative Strength Index [RSI] indicator inclined towards a sellers’ market as the marker was below the 50 median.

In other news, Ripple had onboard Sendi Young as the Managing Director of European Operations. Previously an employee of the Mastercard and a Harvard Business School alumnus, Young was ready to venture into the crypto-verse with Ripple.

Speaking about her latest role, Young stated,

“These technologies can make the global financial system fairer, more inclusive and more transparent – this is just the beginning of what’s possible and I’m excited to be joining such a talented and passionate team and a company that is at the forefront of this step-change.”

XRP struggles to fortify near $0.65 as the price lacks conviction

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The cryptocurrency market currently stood at a valuation of $1.3 trillion. XRP has continued to remain on the sidelines despite the renewed bullish impetus in the market as altcoins faced stiff resistance from the sellers at every uptick level. As a result, the seventh-largest crypto-assets weekly losses extended to 11.53% as it traded close to the 2021 lows. It will be a struggle to establish the feat in the context of an overall market rout as sellers remained wary.

Over the past 24-hours, XRP was up by 1.44% which drove its price to $0.643. At the time of writing, the crypto-asset registered a market cap of $29.52 billion and a 24-hour trading volume of $2.29 billion.

XRP Daily Price Chart:

XRP 2

As XRP continued to hover near a two-month low price level, the major moving averages shifted their bases above the candlesticks resisting any upward breach attempt. The bearish crossover by the 50 DMA [Pink] and the 100 DMA [Blue] depicted that the bears have the upper hand. The latest slide, however, prompted the already upsloping 200 DMA [Yellow] to surpass the XRP price candles.

The digital asset can expect a rally if the moderate volume increases and aids in the price reclaiming its fort above the DMAs.

XRP2 1

The green closing bars of Awesome Oscillator [AO] exhibited a weak but a shift towards bullish momentum. As depicted by the Chaikin Money Flow [CMF], the capital inflow into the coin market, however, remained low as the broader market continued to suffer more selling. Since the drawdown of mid-May, the Relative Strength Index [RSI] has failed to recover above the 50-median line and was hovering close to the oversold market conditions.

To reclaim its past glory, the crypto-asset needs to steer clear of the DMAs which stood as string resistance levels at $0.72, and $1.05. Other target points were found to be at $1.59 and $1.84. However, the XRP market is still in bearish favor. Looking ahead, the sellers could attempt to push the price of the coin to its immediate support level of $0.54. Added support lies at $0.422 and $0.248 respectively.

XRP to prolong its stay below $1 as bears lay out boundaries

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The entire crypto market was crumbling down, and XRP seemed to be leading this journey. The altcoin slumped down below $1 after the bear took over the market and has remained in this zone for a while now. Just as a few other altcoins witnessed dainty signs of recovery XRP, jumped on to this bandwagon. At the time of writing, the altcoin was noted garnering a 2.63% surge over the last 24-hours. The asset’s price was at $0.65, and this was achieved throughout the previous seven days, as it recorded a loss of 22%.

The sudden surge in the price of the asset did not mean the bulls were in to take over. The altcoin’s chart hinted at the presence of the bear. XRP wasn’t the only coin defeated by the bear. Bitcoin [BTC], during press time, was at $34K; even though this is considered a jump from its previous levels, the community hopes to garner more profits from the king coin.

Furthermore, the overall market cap of the crypto-verse had depleted to $1.36 trillion. XRP remained below Dogecoin [DOGE] in terms of the market cap, even if the disparity between the two wasn’t too high.

XRP one-day price chart on Bitfinex

XRP

The one-day price chart of XRP wasn’t aligning with the ongoing sentiment in the crypto-verse. The Bollinger Bands indicator wasn’t diverging; hence, the volatility in the market wasn’t too high. The Awesome Oscillator indicator noted that this was for the best, as the bears took over the altcoin’s market. The indicator formed red closing bars to affirm the same.

The Chaikin Money Flow indicator also suggested a bearish notion as the marker remained below the zero median, considered bearish.

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In addition to the ongoing notion in the XRP market, the Relative Strength Index [RSI] indicator revealed a sellers’ market. The RSI marker suggested that the altcoin was recovering from being oversold.