XRP worth evaluation: XRP buying and selling in an nearly crucial help space of the parallel channel
- XRP price follows a rising channel pattern as it bounces back after testing support from 20-day moving averages
- The XRP / BTC pair is trading below all major moving averages which is at 0.00001037 BTC with an intraday gain of 0.56%.
Source: trade view
XRP Price is trading in a rising channel pattern as it approaches its critical support area of 20-day moving averages (DMA). Currently, XRP is mostly trading the major moving averages of 20,50,100 and 200-DMA, indicating its upward momentum. However, if the coin manages to hold above 20 DMA, we can expect it to remain bullish in the coming trading sessions. Lower level support is at $ 0.39 and $ 0.34 (200-DMA). The strong support can be seen at $ 0.24. Resistance at higher levels is at $ 0.65 and $ 0.78. Volume does not support the upward momentum, while the indicators do not encourage further upward momentum either.
Negative news about Ripple stating the chances of reaching an agreement with the complexity of the US Securities and Exchange Commission and Ripple are getting smaller and smaller.
Source: trade view
The coin above the daily chart (4 hours) is trading on a bullish note after receiving $ 0.48, while the resistance on the higher side is at $ 0.58 and $ 0.62. Currently XRP traded at USD 0.54 with an intraday loss of -1.37%, a jump in volume of almost + 11.92% at USD 10,587,728,611 and a market capitalization of USD 24,563,638,419. The technical indicators also speak for bulls.
Relative Strength Index (Bullish) indicates bullish momentum in trading at 46.43. However, it is moving towards overbought territory after recovering from lower levels.
Moving Average Convergence Divergence (Bullish) is currently showing an uptrend on the daily chart, as is trading with the importance of the seller’s signal line (red) versus the buyer’s line (green). A positive transition is expected, however, as both lines are closer together.
Support levels: $ 0.39 and $ 0.34
Resistance Levels: $ 0.65 and $ 0.78.
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