The cryptocurrency market’s sudden uptrend has put a smile on the faces of users and investors as prices have shot up after an extended bear run. The top ten cryptocurrency club including Bitcoin [BTC], XRP and Ethereum [ETH] have all shot up, elevating their market cap as well as their trading volume.
XRP’s price hike is clearly visible on the charts as the trend line shows an acute climb. The uptrend caused the price to move from $0.296 to $0.3216. The support has been holding at $0.292 while the resistance is at $0.322.
The Relative Strength Index shows a market spike on the chart, breaching the overbought zone and settling just below it. This is a sign of the buying pressure being more than the selling pressure.
The Awesome Oscillator too displays a significant climb as the market momentum has been swayed by the arrival of the bulls.
The one day graph for XRP has still not taken the side of the bull as the downtrend is much more apparent. The downtrend resulted in the prices dropping from $0.516 to $0.316 while the support has been holding at $0.263.
The Chaikin Money Flow indicator shows a vertical spike to reach the zero line after which there have been sporadic bullish and bearish signals. The hold below the zero line is an indication of the capital leaving the market being more than the capital coming into the market.
The Bollinger bands have taken a constricted pipe-like shape after the majoritarian sideways movement of prices. The upper band and the lower band have started a slight divergence which means that a trend change is imminent.
The above-mentioned indicators all show XRP recovering from its bearish drudge which is evident even in the increase in market momentum. The only cause for concern is the duration of the bull run, which the signs point to being a short one.
XRP/USD Price Analysis: Prices stagnate as the bears and the bulls continue to brawl
XRP, once the second largest cryptocurrency is now the third largest in terms of market cap on CoinMarketCap. The price of XRP at press time was $0.3079, with a market cap of $12.4 billion.
The 24-hour trading volume is low when compared to competing cryptocurrencies and at $412 million, most of the volume for XRP comes from the exchange ZB.COM via the trading pair XRP/USD.
The one-hour chart for XRP shows an uptrend that extends from $0.2952 to $0.3046, while the downtrend ranges from $0.3334 to $0.3093. The support at $0.2928 and $0.3038 are both holding the prices from falling. The price of XRP is currently bouncing off the resistance at $0.3160.
The Parabolic SAR markers are forming above the price candles indicating a bearish pressure on the prices.
The MACD indicator shows a crossover to the top, as the MACD and the Signal line are undergoing a bullish crossover. The histogram shows increasing green bars developing over the zero-line.
The Awesome Oscillator shows the same projections as the MACD, as it has also undergone a bullish crossover. The green bars developing over the zero-line indicates an increasing momentum.
The longer time frame for XRP shows a dominant downtrend with no signs of a strong uptrend evolving. The downtrend extends from $0.9027 to $0.313. The support at $0.2587 is the only thing holding the prices from spiraling downwards. The resistance points at $0.5836, $0.6880 and $0.9027 will be tested soon considering how the prices are behaving.
The Aroon indicator shows a simultaneous increase of both the uptrend and the downtrend as the Aroon green and the red lines are both heading upwards.
The Chaikin Money Flow indicator is still below the zero-line indicating that the sellers are still pressuring the buyers i..e, the money is still flowing out of the market.
The Relative Strength Index shows the same scenario as the CMF as the RSI line is below the 50-line. This indicates that the sellers are dominant in the XRP market.
The one-hour chart shows bullish signs for the shorter time frame as confirmed by the MACD and AO indicator, contrary to the bearish indications of the the SAR indicator. The Aroon, CMF and the RSI all indicate a stagnant and sideways motion with a slightly bearish outlook for XRP in the longer term.
XRP/USD Price Analysis: Bulls carry coin ahead while bear sharpens its claws
The cryptocurrency market had been under the bear’s vice and this contributed to XRP slipping from its second position on CoinMarketCap in terms of market cap, to third this month. Ethereum [ETH] took over XRP’s place in the market and it appears that the two coins are in a tough fight for the spot.
At press time, XRP was valued at $0.3032, with a market cap of $12.4 billion. The coin registered a 24-hour trading volume of $407 million, with a minimal fall of 0.27% over the past day. The coin noted a growth of 3.55% over the past seven days while registering a rise of 0.17% over the past hour.
The coin’s one-hour chart indicates a downtrend from $0.3215 to $0.3128, followed by another downtrend from $0.3176 to $0.3093. XRP drew a resistance at $0.3107 and a support at $0.3059.
Bollinger Bands appear to be converging, indicating reduced volatility in the market. The moving average line is under the candles, suggesting a bullish trend.
Awesome Oscillator points towards a weakened bullish momentum.
Chaikin Money Flow has the marker above the zero-line, indicating that money is flowing into the market and that a bullish ride may be in the offing.
The one-day chart of the coin marks an uptrend from $0.2707 to $0.4785 and a downtrend from $0.5558 to $0.4785. The coin traced resistance at $0.3276 and support at $0.2926.
Parabolic SAR points towards a bearish reign as the markers have aligned themselves above the candlesticks.
MACD line is over the signal line, marking a bullish market.
Relative Strength Index indicates that the buying and the selling pressure are evening each other out.
As per the indicators, Bollinger Bands, Awesome Oscillator, Chaikin Money Flow and MACD, a bullish trend is forecast. However, the lingering presence of the bear cannot be ignored.
XRP Twitter Troll Bots Attempt To Scam Ripple Investors By Claiming Abandoned Development Team
XRP FUD Hits Twitter With Bots Claiming That The Development Team Quit
The popular digital asset XRP has been affected by a new FUD campaign on social media, specifically on Twitter. During the last few days, several bots started to write to several users that the development team has abandoned the project for another one. Although it might not be the only reason, XRP lost the second position as the largest cryptocurrency in the market after being surpassed by Ethereum (ETH).
Random users on Twitter started to tag XRP community members explaining to them that developers were abandoning the project. Clearly, this is something that did not happen. At the same time, these accounts suggested users not to purchase XRP or sell if they had some XRP coins.
Hey I saw you follow XRP Twitter so I think it you may need to know this news, the XRP dev team had already abandon the project for another one. Sell you bag now
— Ernest Lipscomb (@ErnestLipscomb5) February 13, 2019
You recently follow Ripple on Twitter? Don't be silly the developer team has quit for a while. Run as fast as you can
— Ernest Lipscomb (@ErnestLipscomb5) February 13, 2019
Some of the accounts to which one of the bots was writing to were recently created. The bot that has as name Ernest Lipscomb writes that she saw that the user followed XRP on Twitter, thus considering this user an XRP holder. After it, she advises selling the coins right away due to the development team quitting Ripple to create another project.
At the same time, these bots were using the Ripple and XRP words as synonyms, when Ripple has explicitly requested the community to clearly distinguish the differences between Ripple, the company, and XRP, the digital asset.
Active XRP members have reported this activity to Twitter, which has yet not blocked most of these accounts. Until now, there are no individuals or groups behind this situation and attack to the XRP community.
At the time of writing this article, XPR is being traded around $0.304 and it has a market capitalization of $12.55 billion.