- 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.
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.