XRP Price Analysis: XRP Coin Recovery Facing Significant Rejection From 100 and 20-DMA

  • XRP coin price is gradually recovering after testing 200-day moving average, while on the higher side facing the resistance of 20 and 100-DMA
  • The crypto asset is struggling near the vital moving average of 100 and 20-day but still sustains below 50-DMA
  • The pair of XRP/BTC is trading with intraday gains of +2.14% CMP at 0.00002643 BTC, while XRP/ETH is trading with a minor 24-hours loss of -0.79%, standing at 0.0003466 ETH 
Source:tradingview

XRP coin over the monthly time horizon is struggling near the physiological mark of $1.00. As the coin is trying to overcome losses and witness strong buying interest near the 200-DMA support zone. Meanwhile, Bulls are facing difficulty in suppressing the moving average of 20 and 100-DMA. 

The closing of day candles above 100 and 20-DMA will enhance Bulls’ confidence, and we can see good recovery in up-coining trading sessions. However, the volume is continuously decreasing and falls below the average line, which also needs to improve. Support on the daily weekly chart is at $0.78 and $0.65; while, resistance on the higher side is $1.10 and $1.28. 

XRP Coin Highlights The Gradual Uptrend

Source:tradingview

The weekly time frame highlights the gradual uptrend of XRP coins, with rising trend lines making higher highs and lower lows patterns. At the same time, the technical parameters are giving mixed signals with shallow volume activity. Since the coin is sustaining near the physiological mark of $1.00 and if it closes above $1.00, then we can see a good recovery in the short term. Presently, the XRP coin is trading at $0.96 levels with intraday gains of +3.44%, and the volume to market cap ratio stands at 0.05702.      

Relative Strength Index (BULLISH): XRP coin RSI is presently projecting mild bullish momentum over the weekly chart heading towards the overbought zone. It Stands at 51. 

Moving Average Convergence Divergence (NEUTRAL) currently indicates a mixed trend on the daily chart. The buyer’s signal line (green) and the seller’s line (red) overlap. 

Support levels: $0.78 and $0.65

Resistance levels: $1.10 and $1.28.  

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