XRP Consolidates, Is It Going To Retrace Now?

2022-6-5 04:00

XRP among other leading altcoins have been consolidating on its chart. Bitcoin slid below the $30,000 price level which has dampened the price action of altcoins. Over the last 24 hours, XRP made no price movement. In the last 24 hours, the altcoin gained a minor 2.4%.

On the chart, the coin displayed bearish price action as the coin might be breaking the consolidation. The coin currently has found support at $0.34. The coin last touched the price level in the month of February 2021. If the coin pushes below further then it may touch the support level of $0.28.

The global cryptocurrency market cap today was at $1.28 Trillion with a 0.7% positive change in the past 24 hours. If bulls still continue to struggle to break past the $0.43 resistance level then the coin is headed for another downslide.

XRP Price Analysis: One Day Chart XRP was priced at $0.38 on the one day chart | Source: XRPUSD on TradingView

The coin was trading at $0.38 at the time of writing. The local support level for the coin stood at $0.33. If the coin continues to experience selling pressure then it could fall to a low of $0.28. Overhead resistance for the coin stood at $0.40.

For the bulls to be back, XRP needs to break past the aforementioned price resistance and trade near $0.43. The volume of XRP traded had plummeted as seen on the one day chart. The volume bar was seen in the red which showed bearish significance in the market.

Technical Analysis XRP showed signs of recovery on the RSI on the one day chart | Source: XRPUSD on TradingView

The buying strength tried to rise on the chart. After the coin was oversold it recovered slightly as seen on the Relative Strength Index. At the time of writing, the RSI was above the oversold zone, despite the same selling pressure was strong in the market.

The price of XRP was struggling to move over the 20-SMA line. At press time the coin was still below the 20-SMA signifying that bears were driving the price momentum in the market. In case the demand for the coin shows up, the coin can move above the 20-SMA line which could push XRP to trade near $0.40 price mark.

Related Reading | Arthur Hayes Says Ethereum (ETH) Could Reach $10K Level By The End Of Year

XRP registered a buy signal on the one day chart | Source: XRPUSD on TradingView

XRP could soon bottom out and then aim for the next resistance level. The coin displayed a buy signal on the chart. The Awesome Oscillator depicts the price momentum and it displayed a change in price momentum.

The green signal bars on the AO are synonymous to a buy signal which can also mean a change in the price action. The Directional Movement Index was positive which corresponded with the AO. The +DI was above the -DI line indicated bullish build-up.

The Average Directional Index was also above the 40 mark and that is a mark of price trend strengthening in the market.

Related Reading | Polkadot At $9.30, But Is There A Chance Of Slight Shift In Trend?

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

ETH/LINK Price Action Candlestick Set (LINKETHPA) на Currencies.ru

$ 467.1 (+0.48%)
Объем 24H $0
Изменеия 24h: 0.85 %, 7d: 17.53 %
Cегодня L: $453.49 - H: $467.1
Капитализация $0 Rank 3676
Доступно / Всего 0 LINKETHPA

price xrp altcoins dampened level action made

Источник: newsbtc.com

price xrp → Результатов: 126


Ripple’s XRP Cryptocurrency Price Expected to Weaken Further After Corrective Move, But There’s a Catch

In an analysis posted on TradingView, trader Orson_Fawley shared insights into the potential future price movements of XRP, the cryptocurrency associated with the Ripple payment protocol. According to Fawley, XRP’s current downward trajectory is expected to continue, with the price potentially revisiting the low of $0.

2024-5-4 15:15


Leading Analyst Identifies Mega Ascending Triangle in Ripple (XRP) Price Chart; Forecasts Breakout Will Push Price to $1.4

Famous expert in technical analysis, @egragcrypto, has given some easy-to-understand insights about the cryptocurrency XRP, highlighting that its price might make a big move soon. In his latest look at XRP, he talks about the chances of big changes in price and points out a coming “liquidity storm,” which he calls “The Perfect Storm.

2023-9-30 14:36


XRP Journey To $10: Unveiling The Forces That Could Trigger An Upward Momentum

XRP is currently undergoing a notable price correction, with a 24-hour decline of 2. 2% and a seven-day slump of 12. 1%, bringing its price to $0. 61 according to CoinGecko.   However, amidst this downturn, prominent crypto YouTuber and XRP analyst, Alex Cobb, has set an ambitious price target of $10 for the digital asset, employing the Elliott Wave Theory to analyze its monthly price chart.

2023-8-7 17:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Tether CEO slams Ripple chief’s USDT remarks: Here’s what he said

Tether CEO Paolo Ardoino has slammed Ripple CEO Brad Garlinghouse’s remarks that the US government is “going after” Tether (USDT) as mere “FUD.” The Tether CEO also hit back at Garlinghouse as a CEO at the helm of a company currently under investigation by the US Securities and Exchange Commission (SEC). UDST is the world’s […]

SEC files final response in XRP lawsuit, rejects Ripple’s claims

The United States States Securities and Exchange Commission (SEC)  has filed its final response to its ongoing lawsuit against Ripple. According to the filing, the commission has refuted Ripple’s claims that it acted without recklessness in handling the XRP cryptocurrency.…

SEC calls Ripple’s proposed stablecoin an ‘unregistered crypto asset’

The US Securities and Exchange Commission (SEC) appears to be targeting Ripple’s proposed stablecoin in its latest court filing against the crypto company. In its May 7 redacted remedies reply brief, the regulator described the proposed stablecoin as an “unregistered crypto asset” and further evidence that the company will continue to engage in unregulated activities […] The post SEC calls Ripple’s proposed stablecoin an ‘unregistered crypto asset’ appeared first on CryptoSlate.

Bitcoin ETFs in the US see $15.7 million in outflows

Quick Take US Bitcoin ETFs saw an outflow of $15. 7 million on May 7, marking the first day of outflows since May 2. According to data from Farside, Grayscale’s GBTC was responsible for the negative trend, as it recorded $28.