- XRP price rebounded over the monthly chart and is now trading around its monthly highs of $0.91, but volume action is average.
- The crypto asset flies above the major moving averages of 20, 50, 100, and 200-Day lines, while SMA of 20 & 50-Day moves for a bullish crossover towards 100 and 200-DMA lines.
- The pair of XRP/BTC is trading at 0.00001937 BTC with a huge intraday increment of +8.48%, and the ratio of XRP/ETH is CMP at 0.0002776 ETH with 24-hour gains of +6.43%.
XRP price at the monthly chart is trading on solid bullish momentum, whereas the coin is making higher and lower low patterns. Moreover, after a long time horizon, the coin jumps above all major moving averages of 20, 50, 100, and 200-Day.
Volume over the monthly chart is lower, as the volume activity is recorded near its average volume line. The bullish momentum in the ripple can be extended till the $1.00 mark, but the volume needs to improve. However, XRP’s bullish momentum is creating divergence with volume action as the volume is not supported with bullish price momentum. Support on the lower side is at $0.69 and $0.58, whereas resistance on the higher side is $0.92 and $0.98.
XRP price is trading under the rising channel pattern
The weekly chart of XRP price is trading under the rising channel pattern while creating higher highs and lower lows. However, the technical parameters are under the overbought zone after a sharp rally from the lower levels. Volume at the 4-hour time frame is lower with the strong bullish momentum and needs to improve in upcoming trading sessions. Presently, the XRP price is trading at $0.89 with an intraday change of +9.05%, and the volume to market cap ratio is at 0.1166.
Relative Strength Index (OVERBOUGHT): XRP price RSI presently indicates a slight bearish or caution trend over the weekly chart. In contrast, the RSI is trading under the overbought zone and now CMP 74.
Moving Average Convergence Divergence (CAUTION): This currently indicates a caution on the daily chart. The buyer’s signal line (blue) overpowers the seller’s line (orange).
Support levels: $0.69 and $0.58
Resistance levels: $0.92, and $0.98.
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