The second largest cryptocurrency, XRP, has been going through a tough bearish phase recently. The market has been seeing a rough patch as a whole, with the only coin soaring being Stellar Lumens [XLM].
At press time, XRP was valued at $0.3125 with a market cap of $12.9 billion. The 24-hour trading volume of the token was $855 million. The coin noted a growth of 0.81% over the past day. In the last seven days, the token plunged by 1.45% and was dipping by a minuscule 0.30% over the hour, at press time.
The one-hour chart of XRP indicated an uptrend from $0.3222 to $0.3266, followed by a downtrend from $0.3266 to $0.3200. The token drew resistance at $0.3266 and support at $0.3143.
Bollinger Bands marked a bearish trend as the moving average line aligned over the candlesticks. The bands had diverged, indicating a volatile market.
Awesome Oscillator pointed towards a weakened bearish trend.
Relative Strength Index indicated that the buying and selling pressures evened each other out.
According to the one-day chart of XRP, an uptrend was seen from $0.3465 to $0.5639, followed by a downtrend from $0.5821 to $0.3397. XRP marked resistance at $0.4141 and support at $0.2895.
Parabolic SAR marked a bearish trend as the markers aligned above the candlesticks.
MACD line was over the signal line and marked a bearish market.
Chaikin Money Flow pointed to a bearish market as the marker line remained under the zero-line.
On the one-hour chart and the one-day chart, the indicators Bollinger Bands, Awesome Oscillator, Parabolic SAR, MACD, and Chaikin Money Flow forecasted a bearish reign for the coin.
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