XRP Price Analysis: XRP Token Price Trading Near Critical Level and Pullback Can Be Strong

• XRP token price is trading near the crucial level and is trying to hold 200-DMA while pullback will be stronger 
• The coin, after facing significant selloff, is now reaching near the vital moving average of 200-DMA
• The pair of XRP/BTC is trading negatively by intraday loss of -6%, standing at 0.00002284 BTC. Similarly, XRP/ETH is also facing an intraday cut of -6% CMP at 0.0003693 ETH   

XRP token price over the monthly chart after witnessing enormous selloff is now trying to hold a meaningful support line of 200-DMA. After the massive selloff, the digital asset plunges nearly -45% in the past seven trading sessions since XRP can now take support near 200-DMA and can also experience some short-term bounce back. However, the chart structure is weak as the coin slipped below 20, 50, and 200-DMA.

The only thing to watch for bulls is sustainability above 200-DMA. If the crypto asset manages to hold it soon, we can see a significant recovery this week. Support on the lower side is at $0.65 and $0.44; likewise, levels of $1.00 and $1.20 will be acting as resistance. 

Weekly Chart of XRP Token is Now Trying to Recover

XRP token over the weekly chart is now trying to recover after a breakdown from the consolidation. Presently XRP has formed a small Doji candle strick pattern, and it can be a sign of significant recovery. Moreover, the coin needs to hold 200-DMA for a healthier recovery, and technical parameters also suggest the same. Currently, XRP is trading at the price levels of $0.79 with an intraday loss of -17.11% and a volume to market cap ratio of 0.295. 

Relative Strength Index (NEUTRAL): XRP presently projects neutral momentum with some chance of recovery and trailing near the oversold territory.  

Moving Average Convergence Divergence (NEUTRAL) currently indicates an upcoming bullish trend on the daily chart. The seller’s line (red) and the buyer’s signal line (green) are about to give a positive crossover. 

Support levels: $0.65 and $0.44 

Resistance levels: $1.00 and $1.20

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