- XRP Token is facing rejection of 20-day short term moving average (SMA) and fails to suppress the 20-DMA line
- The coin is trading on a bearish note as it falls below all vital moving averages, and the sell-on rising trend is still intact.
- The pair of XRP/BTC is trading at 0.00001905 BTC with a minor loss of -1.15%, and the ratio of XRP/ETH is changing positively at 0.0002858 ETH.
XRP token witnessing multiple rejections of the 20-day moving average line (red), and the volume is also decreasing over the chart. Over the monthly chart, the XRP coin faces a significant downtrend, making lower highs and lower lows sequence.
Volume over the monthly chart is continuously declining and falls below the average line. Whereas, for a trend reversal pattern, the volume must need to improve in upcoming trading sessions. Once the closing of the day candle above 20 and 200-DMA is observed, the supportive volume will push more buyers. Support on the lower levels is at $0.57 and $0.51, whereas the resistance on the higher side is at $0.78 and $0.92.
XRP Token has given a breakdown from the rising channel pattern
Over the weekly chart, the XRP token has given a breakdown from the rising channel pattern, and the technical parameters favor bears. On the 4-hour time frame, the XRP token breaks the rising trend line and the already creating divergence with the bullish momentum. The crypto asset over the monthly chart faces strong rejection of the 20-day moving average, and the closing of day candles above crucial levels will create positive momentum. Presently, the XRP token is trading at $0.61 with an intraday loss of -7.85%, and the volume to market cap ratio is at 0.08025.
Relative Strength Index (OVERSOLD): XRP token RSI presently reaches near the oversold zone after a sharp selloff over the weekly chart. In contrast, the RSI is trading near the oversold zone and after a healthy correction from higher CMP 32.
Moving Average Convergence Divergence (BEARISH) currently indicates a 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: $0.78 and $0.92.