- 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
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
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.