XRP and Ripple are both seeing massive growth since the start of 2019. The list of XRP’s use cases is growing longer with every passing day.
However, XRP’s price valuation has not been improving, despite massive developments in the community. At press time, ZRP’s price was $0.3167 and the market cap was $12.9 billion. The 24-hour trading volume was $662 million, significantly lower than the $700 million market cap in the past.
The one-hour chart showed a downtrend that stretched from $0.3445 to $0.3208, while the uptrend extended from $0.3072 to $0.3159. The prices were testing the immediate support at $0.3160, while another support at $0.3038 was formed below. The resistance point $0.3260 was preventing XRP from rising. The subsequent resistance point was seen at $0.3489.
The Parabolic SAR markers were seen hovering above the price candles, pressuring the prices to fall.
The MACD indicator showed a bearish crossover between the MACD and the signal line. The histogram further confirmed bearish pressure with red bars extending below zero.
The Awesome Oscillator showed a decrease in the momentum of the prices as the bars had progressed towards the bottom of the zero-line.
The one-day chart showed a dominant downtrend that was progressing since May 2018. It extended from $0.9027 to $0.3257. The support at $0.2587 was holding XRP from dipping further below. Long-term resistance points were seen at $0.5836, $0.6880, and $0.9027.
The Aroon indicator showed a dominant downtrend as the Aroon red line was at 40-line, while the Aroon green line was at 25-line.
The Chaikin Money Flow showed a sub-zero line, indicating that the money was flowing out of the XRP market.
The Relative Strength Index showed that both the selling and buying pressure had evened each other out.
The SAR, MACD, and the AO indicated a bearish pressure on the XRP market in the one-hour time frame. This projection was seconded by the one-day chart and its Aroon, CMF, and RSI indicators.
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