Volatility was written all over the crypto market. XRP followed the footsteps of Bitcoin [BTC] and several other coins as it sunk below $1. After dropping to a low of $31K, the community laid out speculations that involved the price of BTC plummeting to $20K. However, the asset, during press time, had witnessed a 6% daily surge that pushed the asset to $35K.
XRP continued to succumb to the bear. Over the last couple of days, XRP has been traveling over and below $1, multiple times. At the time of writing, XRP was trading for $0.87. The altcoin barely made any gains today. The coin’s 24-hour price change was a positive 1.11%. However, the asset endured losses up to 14% over the week.
The market cap of XRP was noted at $40.6 billion, while the overall market cap of the crypto-verse was at $1.58 trillion. Dogecoin [DOGE] had preceded XRP in terms of ranking and pushed the altcoin down to the seventh position.
XRP one-hour price chart on Binance
The bears seemed to be finally leaving the altcoin market. The short-term price chart of the altcoin noted a strong bullish presence. The Awesome Oscillator indicator devised green closing bars which further alerted the inclusion of bulls in the market. The Klinger Oscillator indicator followed suit as it inclined towards the bull. This robust notion could further push the altcoin towards $1 once again.
However, the Bollinger Bands indicator suggested that there might not be increase volatility in the altcoin’s short-term market. The bands were close to each other and noted convergence as opposed to divergence.
No major buying or selling activity was noted in the altcoin market. The Relative Strength Index [RSI] indicator revealed a buyers’ sentiment as the RSI marker remained over the 50 median. The Money Flow Index indicator presented a similar predilection as it noted limited buying or selling sentiment in the coin’s one-hour price chart.