XRP Lost the Momentum and Slips After Making New 52-Week Highs

•  XRP lost over -24.95% after hitting the new 52-week high of $0.7680, currently trading at the price level of $0.5110
• The pair of BTC/XRP negatively dragged over -17.60% standing at 0.00002956 BTC

Over the monthly chart, XRP hits the new 52-week high during the bull run in cryptomarket, after testing the higher level of $0.7680 the profit booking pulls the coin to the level of $0.5110 with the volume recorded in the last 24-hours of $23,893,120,104 and while the total market capitalization stands at $24,015,378,147. The coin, however, recovers from a lower level of $0.4770. 

On analizing the daily chart of XRP, after making the symmetrical triangle pattern XRP gives a breakdown towards the lower end and tested the lower level of $0.4700 and the recovery in the market pulls it and XRP is currently holding the level of $0.50. 

The coin has major support at the monthly chart at $0.2400 and $0.2200 on the lower side while on the higher side the resistance is placed at $0.7600 and $0.9600. For the intraday traders, the support and resistance are placed at $0.5100 and $4700, while on the higher side the resistance is placed at $0.5700, $0.6200 and $0.7200. 

The Relative Strength Index (RSI) after testing the overbought zone gets corrected and tested the oversold zone and again bounces back at heading towards the overbought zone, indicating the upcoming positive momentum in the coming trading sessions. RSI is trading at 37.62 near a quite oversold zone. 

The Commodity Channel Index (CCI) after a dip in the oversold region it heading towards the over brought zone, currently trading -63.10 recovering from its low. Indicating the positive momentum in the coming trading session.

The Moving Average Convergence & Divergence (MACD) is heading for the positive crossover incoming trading sessions, Bull’s line (blue) is ready to suppressing the Bear’s line (red).

Resistance levels: $0.6200 and $0.7200

Support levels: $0.5100 and $4700