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XRP/USD Technical Analysis: Coin burns in the fire started by the bear


ambcrypto.com 16 January 2019 01:00, UTC
Reading time: ~2 m

The second-largest coin on CoinMarketCap, XRP has been seeing significant growth since January 14 and is still going steady. The coin underwent a sudden price hike on January 14, however, it did not last for long.

At the time of press, XRP was valued at $0.3305, with a market cap of $13.5 billion. The coin registered a 24-hour trading volume of $474 million with a mere fall of 0.68% within the past hour. The coin has been performing poorly as reflected by its seven days dip of 9.11%.


Source: Trading view

According to the one-hour chart of the coin, the coin registered massive downtrend from $0.3860 to $0.3422. The coin registered an uptrend from $0.3367 to $0.3263 with resistance marked at $0.3429 and support marked at $0.3206.

Bollinger Bands are at a converging point, reducing the market volatility. The moving average line of the coin appears to be over the sticks, pointing towards a bearish market.

Awesome Oscillator also indicates a bearish market losing momentum.

Chaikin Money Flow has just dipped under the zero mark, indicating a bearish trend.


Source: Trading view

The one-day chart of the coin suggests an uptrend from $0.3467 to $0.5639, after which it fell from $.0.4928 to $0.3826 till $0.3116. The coin gradually went up from $0.2931 to $0.3206 and is going through constant ups and downs since. The coin registered resistance at $0.4141 and support at $0.2905.

MACD line is under the signal line, marking a bearish market. However, the MACD line might crossover the signal line anytime soon.

Parabolic SAR indicates a bearish market as the markers have aligned themselves above the candlesticks.

Relative Strength Index indicates the buying and selling pressures are evening each other out.


All the indicators together predict a bearish run for XRP. The coin must be the second largest but is still in competition with Ethereum [ETH, which is right under its nose and might overtake any moment, especially when it’s pumping.

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