The entire crypto market was on a downward trajectory. XRP and Litecoin [LTC] were the only coins that noted a bullish momentum. Bitcoin [BTC] had dropped down to a low of $43K. While the community continues to blame Elon Musk for the carnage that has struck the crypto-verse, all the assets were seen losing the gains they bagged over the last few months.
The market cap of the crypto sphere seemed to be moving close to dropping below $2 trillion. The market cap of BTC was recorded at a low of $829 billion.
Alongside this carnage, were coins that did not succumb to it. This list was spearheaded by XRP as the altcoin was seen recovering from its recent fall. At the time of writing, The altcoin was trading for $1.63 with a 6.51% surge during the last 24-hours. Even though the altcoin’s crypto rank slipped down to the seventh place. the coin’s market cap was at $56 billion.
XRP one-hour price chart on Binance
XRP would continue to get that short-term push, the bulls in the coin’s one-hour price chart affirmed. The Bollinger Bands indicator noted a rise in volatility as the bands were diverging. The MACD line crept up the signal line further forming a bullish crossover.
The Relative Strength Index [RSI] suggested a buyers’ sentiment and revealed that the altcoin was recovering from being overbought.
XRP one-day price chart on Binance
The one-day chart of XRP mirrored the coin’s short-term chart up to to a certain level. The Awesome Oscillator indicator laid out green closing bars, despite being insignificant, a bullish sentiment was noted in the market. The Chaikin Money Flow indicator remained over zero median, in the bullish arena.
The Money Flow Index indicator pointed out a buyers’ market.
With the bulls ruling the XRP market, the chances of the altcoin hitting $2 were significantly high. Despite the ongoing sentiment in the crypto market, XRP looked like it was going for a new high.