Volatility had hit the crypto market. While this wasn’t very favorable for the other coins, XRP managed to make most of this volatile wave that the crypto market was at. Bitcoin [BTC], during press time, was down by the $52K zone. The king coin’s market cap also slipped down below $1 trillion further taking the overall market cap to $1.66 trillion.
The XRP army has been trying to induce themselves in the ongoing Ripple vs SEC case suggesting that they haven’t been represented properly. With the case going on at full speed, the price of XRP seemed to be surging. At the time of writing, XRP was trading for $0.53 with a 5.77% rise in the last 24-hours. Over the last seven days, the altcoin garnered profits up to $13.23%. The market cap of the asset was noted at $24.46 billion.
XRP One-Hour Price Chart On Binance
The short-term price chart of XRP pointed out that the bulls were residing in its market. The Awesome Oscillator indicator used in the one-hour price chart of XRP announced the presence of bulls by laying out a green closing bar. The Chaikin Money Flow indicator was over the zero median which suggested that the altcoin was in the bullish arena. The Money Flow Index indicator was in sync with the bullish notion exhibited by the altcoin. The MFI marker was over 50 median which suggested a buyers’ market.
XRP One-Hour Price Chart With Key Indicators
Turns out, all the indicators used in the short-term chart were siding with the bulls. The Parabolic SAR indicator laid out dotted lines below the candlesticks. This line further negated the chances of a downward breakout. The MACD line was over the signal line forming a bullish crossover. This crossover was achieved yesterday and seems to have prolonged. The Relative Strength Index indicator was noted high up in the buyers’ arena.
While all the signs were inclining towards the bulls, the asset could finally try making it past $0.6.