XRP has been dominating its second spot after pushing Ethereum to the third spot. With more and more partnerships in Japan and various banks around the world, XRP and Ripple are trying to revolutionize the traditional banking as we know it.
XRP has undergone a negative change of 7.97% and the price fell as low as $0.38.
- Current price: $0.40
- Market Cap: $16.46 billion
- Trade Volume: $584.22 million
1 Day Ripple Price Analysis
The uptrend for XRP extends from $0.27 to $0.42 in the larger time frame, but the prices are currently collapsing.
The downtrend, on the other hand, extends from $0.90 to $0.51. Similar to the downtrend in the one-hour charts the trend is following the collapse of the prices.
The support for XRP in the 1-day chart extends from $0.27 to $0.38. The XRP prices look like they are about to test the $0.38 support line soon.
- Bollinger Band
The Bollinger Bands are expanding after a squeeze period and the prices have decided to touch the lower band and reach out of it, indicating that the prices are oversold for XRP.
- Awesome Oscillator
The Awesome Oscillator shows that short-term momentum is falling faster than the longterm momentum, which is a bullish buying opportunity.
1 Hour Ripple Price Analysis
There is no uptrend present in the 1-hour chart because the prices have started to take a downturn, which is not a surprise considering the current bear market.
The downtrend for XRP extends from $0.51to $0.42, but the prices have decided to dip further down as indicated in the price chart.
The previous support that was set at $0.41 has been successfully breached as the prices have dipped below to the bottom.
There are a few Resistance points that XRP has to break to start the next rally. The resistance points from low to high are as follows, $0.46, $0.44, $0.51, and $0.49.
- Parabolic SAR
As indicated by the parabolic SAR dots, the price has moved further down increasing the gap between the dots and prices, thus indicating a bearish move.
- Relative Strength Index
The Relative Strength Index has followed the price movement and has crashed below the 30 line and has extended all the way through the 20 line, indicating a huge oversold market.
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