Bitcoin steered several into the crypto market with its significant change in price. XRP, Ethereum [ETH], Litecoin [LTC], and almost every coin in the industry followed the trail of the king coin. While Bitcoin hit an all-time high, at the time of writing, the asset was trading for $22,852.06. Ethereum also followed suit as it was trading at a high of $648.99, during press time. Litecoin [LTC] had finally pushed past $100 as it bagged gains up to 54.64% over the course of the last seven days.
XRP, the third-largest coin was priced at $0,582 with a 2.97% surge over the last 24-hours. Stablecoin Tether [USDT] was right behind the altcoin in terms of market cap. The market cap of USDT was at $20 billion while XRP was at $26 billion.
XRP One Hour Price Chart
The one hour price chart of XRP formed a pennant. The decrease in volume and short-lived pattern affirmed the formation of the pennant. While the direction of the breakout for a pennant is usually upwards, all the other signs were suggesting the same. The upper trend line and the lower trend like were formulated by lower highs and higher lows. The daily moving average indicator had formed a bullish crossover. The 50 daily moving average [Blue] was seen below the 100 daily moving average [Red] which indicated the presence of bulls in the altcoin market.
While the price change in XRP had led to several in the community vouching for the coin to push past $1, the altcoin seemed to have other plans.
XRP Price Chart With Indicators
The bears were seen creeping into the XRP market. The Parabolic SAR indicator had laid down dotted lines above the candlesticks which restricted the possibility of an upward breakout. This further eliminated the chances of the asset surging to $1. The Chaikin Money Flow [CMF] indicator was in the bullish territory all this while, however, the chart revealed that the CMF marker was heading below zero to the bearish realm.