XRP is Sustaining Above 50-DMA While Investors Hoping for Bullish Move

• XRP after the dip of $0.5950 in the last 24-hours currently holding the level of $0.6200 with the intraday loss of -6.02%
• The pair of XRP/BTC is trading at 0.00003244 BTC with the loss of -4.72%

The monthly chart of XRP is in bullish momentum as making the higher highs and lower bottom patterns after making the high of $0.7680. It slips and tests the level of $0.4620 on the lower levels, however, the recovery pulls the coin to the higher levels. The bullish pattern is observed after testing the seven days low and makes the rising channel pattern over the monthly chart in a 4-hours time frame. The moving average of 50-day moving averages is still holding by XRP and is positive for the upcoming trading sessions, however, the 9 & 21-DMA’s are moving towards the 50-DMA if it crosses then we can expect the bearish trend in the coming trading sessions. 

The support on the lower side is placed at $0.4700 and $0.3000 for the long term investors whereas on the higher side the resistance is placed at $0.7650 and $0.8000. The weekly performance of XRP is recorded with losses of around -8.33%.

 On the daily chart XRP is trading near the rising support line. The coin is trading at the price level of $0.6201 with the intraday loss of -6.70% supported by the volume recorded in the last 24-hours of $16,062,213,372 and the total market capitalization stands at $28,093,051,707. The crypto asset finds the intraday support on the daily chart at $0.5950 and $0.5100, while on the higher levels the resistance is at $0.6990 and the strong resistance is at $0.7100.

The Relative Strength Index (RSI) is heading towards the oversold zone trading at the level of 47.20 indicating no major movement at current level.

 Directional Movement Index (DMI) the -DI is bounces from the line of ADX, whereas the +DI is running parallel to the -DI line.

Moving Average Convergence Divergence (MACD) finally gives the positive crossover by suppressing the Bear’s line (red) by the Bull’s line (blue) indicating the positive movement in the coming trading sessions, however, the significance of the red line is still high. 

Resistance levels: $0.7650 and $0.8000

Support levels: 0.4700 and $0.3000