XRP Price Analysis: XRP Price Rebounded Successfully After Testing The Vital Trend Line

  • The coin witness a strong buying interest near the 50-Day moving average and also acting as a good support line
  • The pair of XRP/BTC is trading positively with intraday gains of +15.85% standing at 0.00003219 BTC, while XRP/ETH CMP at 0.0004143 ETH jump +19.86%
Source:tradingview

XRP price over the monthly chart continues its bullish momentum after testing its vital trend line. In contrast, the coin jumps above short-term or long-term moving averages of 20, 50, 100, and 200-day. However, volume is also near the average line, which needs to improve for a breakout. Since XRP is trading above all vital moving averages and all technical parameters favor bulls. Support on the lower side is at $1.30 and  $1.00, while levels of $1.77 and $2.00 will act as resistance. If the coin manages to sustain above 20-DMA, then we can soon see targets of $2.25 and $2.80.

All Technical Parameters are in Favor of Bulls

Source:tradingview

Over the 4-hour time frame, XRP price trades on a bullish note while making higher highs and lower lows. Whereas, shown good recovery after significant downtrend with all technical parameters are in favor of bulls. Currently the coin is trading at $1.58 with intraday gains of +17.25% and volume jumps nearly +134% standing at $16,242,635,636. Similarly, the total market capitalization remains at 7th rank, standing at $55,966,222,949. Support over the weekly chart is at $1.41 and $1.30; likewise, resistance on the higher side is at $1.68 and %1.77.

Relative Strength Index (BULLISH) indicates bullish momentum while trading at 63.62. However, after a sharp selloff, XRP trades on a bullish note and creates strong positive momentum.

Moving Average Convergence Divergence (BULLISH) currently indicates a bullish trend on the daily chart. It is trading with the significance of the buyer’s signal line (green) over the seller’s line (red).