- XRP token is trading on a bearish note and again heading towards the strong support or demand zone from where bounce back is expected in upcoming trading sessions
- The digital token is trading below all vital moving averages of 20, 50, 100, and 200-day with a below-average volume
- The pair of XRP/BTC is trading in green at 0.00001923 BTC with intraday gains of +2.98%; whereas, the ratio of XRP/ETH is trading at 0.0003389 ETH with an increment of +2.09%
Over the monthly chart, the XRP token is trading near the strong support zone and is now again heading towards the previous lows. Unfortunately, the coin fails to recover from lower levels and now again heading towards the lower levels.
Moreover, a bounceback is also expected from the support zone, but the volume needs to support the momentum. Presently the token is trading below all vital moving averages of 20, 50, 100, and 200-DMA, whereas 20-DMA acts as a short-term hurdle. The volume also needs to improve in upcoming trading sessions for positive momentum. Support on the lower levels is at $0.51 and $0.44; whereas, resistance on the higher side is $0.79 and $0.94.
XRP Token at The Weekly Chart is Now Trying to Rebound
XRP token at the weekly chart is now trying to rebound after a short-term downtrend with normal volume action. The digital asset is now trying to recover with the support of technical parameters. Although the recovery is not much stronger and the bearish or sell-on rising trend is still intact for the traders. Currently, the XRP token is trading at $0.59 with an intraday loss of -5.18% and a total market cap of $27,522,216,180.
Relative Strength Index (BULLISH): XRP token RSI presently projects bullish or positive over the weekly chart. In contrast, the RSI is heading towards the overbought zone after a healthy correction from higher-level CMP at 39.
Moving Average Convergence Divergence (MIXED) currently indicates a mixed trend on the daily chart. This is because the buyer’s signal line (green) and the seller’s line (red) overlap.
Support levels: $0.51 and $0.44
Resistance levels: $0.79 and $0.94.