XRP Price‌ ‌Analysis:‌ XRP token Price‌ recovery facing strong rejection of 20-DMA

  • Xrp token price is facing a significant downtrend or correction from the past few trading sessions, and the volume over the monthly chart is recorded lower.
  • The crypto asset over the monthly chart is trading below all vital moving averages of 20, 50, 100, and 200-DMA lines, while 20-DMA is acting as a strong rejection line.
  • The pair of XRP/BTC is trading under loss of -1.78% at 0.00001871 BTC, and the ratio of XRP/ETH is dealing on a positive note at 0.000312 ETH with a 24-hour change of 0.09%.
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XRP token price is facing a solid hurdle of 20-DMA line, and the volume is gradually declining at the monthly chart. Moreover, the coin is presently trading below all vital moving averages of 20, 50, 100, and 200-DMA lines, while 20-DMA acts as a resistance line.

Currently, the volume falls below the average line and needs to improve to break the hurdle of the 20-DMA line. Once, XRP coin started to sustain above 20 and 200-DMA with a good volume action, pushing more buyers in upcoming trading sessions. Support on the lower side is at $0.57 and $0.51, whereas resistance on the higher side is $0.71 and $0.84.

XRP token price chart indicates upcoming bullish momentum

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The weekly XRP token price chart indicates upcoming bullish momentum, and the coin now reaches near its support zone. Likewise, the technical parameters are also reached near the oversold zone, and a short-term pullback is expected. However, the volume is lower and needs to improve in the upcoming trading sessions to bounce back. Currently, the coin is trading at $0.60 with an intraday loss of -3.52%, and the volume to market cap ratio is at 0.07349.

Relative Strength Index (oversold)XRP token price RSI presently indicates a slightly bullish or positive trend over the weekly chart. In contrast, the RSI is heading towards the higher levels CMP near oversold levels at 42.25.

Moving Average Convergence Divergence (bearish) currently indicates a sideways or bearish trend on the daily chart. This is because the seller’s line (red) is overpowering the buyer’s signal line (green).

Support levels: $0.57 and $0.51

Resistance levels: $0.71 and $0.84.     

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