XRP Price Analysis: XRP Token Witness Good Buying Intrest Near 200-DMA Support

  • XRP token now seems to form a base near the moving average of 200-Day also acting as strong buying levels or support
  • The crypto asset is getting strong or good support from the 200-Day moving average (DMA) and presently struggling near the 100-DMA line 
  • The pair of XRP/BTC is trading in red with an intraday loss of -3%, standing at 0.00002765 BTC, and XRP/ETH is CMP at 0.0003864 ETH losses over -3% in the last 24-hours   
Source:tradingview

XRP token over the monthly time horizon highlights good buying interest near the 200-Day moving average, also acting as a support line. At the same time, the coin is now facing a minor hurdle of SMA of 20 and 50-Day. Volume action over the monthly chart is lower and also falls below the average line, needs to improve for bullish momentum.

The SMA of 20 & 50-Day is acting as resistance on the higher side. Levels of $1.15 and $1.35 will act as resistance, and support on the lower side is at $0.84 and $0.65. The closing of day candle above the 50-SMA will boost the confidence of bulls; then, we can see good upside in the upcoming trading sessions. 

XRP Token Under Triangular Pattern

Source:tradingview

The weekly chart of the XRP token is trading inside the triangular pattern, with the rising trend line acting as a support line. In contrast, the technical parameters are indicating caution after the bullish rally now reaches near the overbought zone. Either side breakout will give a good momentum in the short term, and likely we can see positive momentum. Currently, XRP is trading at $1.00 with an intraday loss of -3.83% at the time of press and volume/market cap ratio at 0.1086.  

Relative Strength Index (CAUTION): XRP token RSI is presently projecting caution over the weekly chart, trading at 56 levels near the overbought territory.  

Moving Average Convergence Divergence (BEARISH) currently indicates a bearish crossover on the daily chart. The buyer’s signal line (green) and the seller’s line (red) are about to give a negative crossover.  

Support levels: $0.84 and $0.65

Resistance levels: $1.15 and $1.35.

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