- The XRP coin shows a bullish crossover of the 20-and-50-day EMA
- The XRP/BTC pair trades at 0.00002046 BTC with a loss of 5.09%
- The 24 hr volume for XRP coins is $4.54 Billion
As mentioned in my previous article on Ripple, the coin price completed its double bottom pattern and reached the $1.2 mark. However, the price is currently experiencing intense supply pressure above this level, displaying a long wick shooting star candle. The crypto traders can expect a short pullback here before the price continues its rally.
Concerning the EMAs: The XRP price shows a solid bullish trend with its price is trading higher than the crucial EMAs 20, 50, 100, and 200. In addition, the coin chart also shows a bullish crossover of the 20 and 50 EMA, attracting even more buyers in the market.
The RSI value is at 56, indicating a bullish sentiment within XRP coins. Moreover, the RSI line has shown an impressive recovery similar to the coin’s price.
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The XRP Coin Chart In The 4hr Time Frame
The XRP coin chart shows a clear rejection of the price from $1.2 resistance. If the price decides to move lower, the crypto traders can expect the nearest support at the $1.02 mark. The current price for the XRP coin at $1.148 is with an intraday gain of 1.23%.
The super trend indicator shows the XRP coin still maintains its uptrend in this lower time frame.
The moving average convergence/divergence(MACD) indicator shows the MACD and signal lines are moving higher than the neutral zone (0.00), indicating the bullish sentiment in the coin. However, these lines have also displayed a bearish crossover in their chart, providing more confirmation for a price reversal.
Conclusion: From a technical perspective, the short-term trend for the XRP coin is bearish. However, the price action has provided quite a positive outlook in this chart, where the crypto traders can hunt for some quick sniper traders until a definite trend is not identified.
Support: $1.02
Resistance $1.2
