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You are here: Home / News / Altcoin News / XRP fights back against the bear as altcoin prices take a hit
XRP Pushes Back Against Bear As Altcoin Prices Take a Hit

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

July 30, 2021 by Akash Anand

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
XRP fights back against the bear as altcoin prices take a hit 4

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
XRP fights back against the bear as altcoin prices take a hit 5

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. 

Filed Under: Altcoin News, Market Analysis Tagged With: Analysis, price, xrp

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