XRP Price Analysis: XRP Token Remains Neutral With The Market Fall

  • XRP token price at $1.35 plunges below the EMA Ribbon with a decline of 3.35% in 24 hours.
  • The volume of 24-hour in XRP at $6,943,130,211 with a drop of 34%
  • The XRP/BTC currently values at 0.00002775, with a flat move of 0.23%

The 4-hour technical chart of XRP token price action projects a bearish momentum. According to pivot points, XRP’s fundamental support level is $1.00. While on the other side, if it moves up, the critical resistance level to watch is $1.95. 

The intraday chart shows a bearish engulfing candle projecting a bearish trend with high reliability.

While looking at the Stochastic RSI (BULLISH) – Provides us with a value of K-73 (blue) intersects below D-83 (orange), Projecting a beginning of bearish scenario in the asset price action. Moreover, the investors may perceive a negative curve in the index.

The Moving Average Exponential Ribbon consists of 8-EMA, ranging from EMA 20-55, acts as solid support in the asset price action. Investors may observe the ribbon is opening up slowly, and the price drops below the ribbon, so until the price remains below the ribbon, it will ensure XRP’s bearish trend.

The volume of (4.50M) is beneath the Volume MA (9.95M) of 20-days. Moderate volume is maintained on the order book of XRP to sustain its price levels. Investors may also observe a declining volume, which expects a big move in future trading sessions.

XRP Token Maintains Sustainability On Intraday Session

XRP token price traded at $1.35 with a decrease of 3.35% over the recent 24-hour period and 16% in the weekly period. Besides, XRP plunges below the EMA Ribbon, leading the price to drop more in future trading sessions. Conversely, the market capitalization decreases to $47 billion. 

Technically, investors can see a negative trend, and the price is sustaining below the EMA Ribbon. The Stochastic RSI index features a negative curve and values in the bullish region. Additionally, the price movement can be towards the target price of $1.95 in future trading sessions. 

Resistance: $1.95

Support: $1.00

Get this news hand-delivered to you on Telegram. Join our Telegram for similar News and Information related to CRYPTOCURRENCY, BITCOIN, BLOCKCHAIN NEWS, and Price prediction.