Price Analysis

XRP Lacks Intraday Traction to Breach Weekly Resistance at $0.20

  • XRP appears accumulating over the past five days within a price range of $0.200 to $0.1919 and has retained support from 50-day and 200-day MA
  • As per the 20-day Bollinger Bands laid, we do not project any unprecedented volatility in the upcoming days
  • $0.200 is acting as the weekly resistance while XRP price currently trades at $0.1976, at the press time
  • XRP breaks the initial uptrend due to volatile upward breakout around the major resistance at $0.200 after which the price accumulation took the toll
  • The MACD curve appears flattening due to the directionless movement of the coin on the hourly chart
  • XRP/USD marked a decent recovery at the onset of the previous week which led the coin to rise above $0.18 price area

XRP Price Analysis

XRP News
XRP/USD Chart By TradingView

On the hourly chart, XRP coin is seen accumulating in the price range of $0.200 to $0.1919, with a strong resistance built at $0.200. In order to break the flattish momentum, there must be a tenacious trade above $0.200, which will also lead to steady support from 50-day MA on the hourly chart. The price trend of XRP/USD is hitting above the 20-day upper Bollinger Band, which is likely to draw a bullish divergence by the end of the trading session today. The bearish candlestick aversion will lead XRP to be an intraday gainer.

The MACD of Ripple currency holds no movement and has turned flat due to intraday lack of traction, while the RSI shows no trading extremities as there has been no steep rise or fall at 56.02, at the time of writing.

The major resistance to look out for lies at $0.200, while the major support is $0.190, followed by $0.185 to have a bullish enclosure of the month.

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Mehak Punjabi

Mehak Punjabi is a post graduate in MBA with specialization in Finance and has joined CryptonewsZ with a skill building view in the world of cryptocurrency and blockchain. She is dynamic and a quick learner with a hold on financial analysis.

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