- XRP price is still below the Moving Averages
- Several key resistance levels ahead
- Important support at $0.26
XRP/USD 1 Hour Trading Chart
XRP price trades around $0.26500 at the moment and is testing a $0.26 support level. If support holds the price would need to pass three resistance levels at $0.27200, $0.27700, $0.28500 before it can retest an important psychological price level of $0.30. On the contrary, if price breaks current support and downtrend continues next support will be around $0.24500.
MACD at the moment is demonstrating falling bearish pressure, suggesting a possible reversal is not too far away. The fact that the Relative Strenght Index not long ago visited an oversold territory also suggests that bulls may return to the market pretty soon. Final confirmation will certainly be a golden cross when 50 day moving average moves above the 200 days moving average. So more conservative traders will probably decide to withhold from opening any long positions at the moment.
Chart source: Tradingview
Image source: Flickr
Disclaimer: Markets, instruments, and advice on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.
5+ Best Crypto Futures Trading Platforms | Bitcoin Derivatives
Ripple Files Petition Requesting Discover of Relevant Info from Binance’s Subsidiary
Analyst Predicts Big Bull Run as Tether Whales Move 374,000,000 in Crypto
Will Cryptocurrencies Bounce Back?
BTC falls below $40k as Saudi Aramco Publishes a Statement on Bitcoin Mining
Recent Press Release
How Blockchain Technology Will Shape the Future of Online Gambling?
Cryptocurrency uses blockchain technology, and this tech ensures the security and anonymity of financial transactions. Many industries have embraced blockchain,...
Cryptos like ETH/USD, BTC/USD dancing to the tune of tweets by Tesla CEO Musk in absence of any Crypto trading regulator:
In February of 2021, Elon Musk tweeted that he found the prospect of holding Bitcoin ‘adventurous’ for an S&P 500...
Earning By Mining, Is a Klondike Of The 21st Century. Mining-Tron.Com
Mining-Tron.com is a company that started its history in 2018 in the cryptocurrency mining market. According to the zephyrnet.com, in...
You May Not Have Known These Bitcoin Facts
However, even though Bitcoin is the most well-known cryptocurrency network globally, there are several aspects of it that you may...
DeFi Coin (DEFC): Live Trading on BitMart is Coming on July 19th!
Decentralized finance is playing an increasingly important role in the crypto world. It is all the less surprising that DeFi...