The cryptocurrency market has been going through ups and downs, but has not witnessed anything shocking in terms of market movement. The second-largest coin, XRP has also seen sideways movement. However, there was a tiff between XRP and Ethereum for the second position, which won its place back.
At the time of press, the coin was valued at $0.3262, with a market cap of $13.3 billion. XRP registered a 24-hour trade volume of $398 million, with a dip of 0.45 % over the past day. The coin has been falling for the past few days and has recorded a fall of $2.01%, and is not showing any recovery as it falls further by 0.16% over the past hour.
1-hour
The one-hour chart of the coin registers a downtrend from $0.3353 to $0.3205, followed by a sudden spike. The coin then noted a massive downtrend from $0.3426 to $0.3317. The coin registered a resistance at $0.3317, and strong support was observed at $0.3256.
Awesome Oscillator marks a bearish market with a faded momentum.
Bollinger Bands appear to diverge, increasing the volatility in the market. The moving average line is under the candlesticks indicating a bullish market.
Chaikin Money Flow is above zero, indicating a bullish market.
1-day
The one-day chart of the coin marks a gradual uptrend from $0.3674 to $0.5649. The chart also noted a recent downtrend from $0.5157 to $0.3760, with a resistance marked at $0.3760. The coin marked a strong support at $0.2903.
Parabolic SAR indicates a bearish market as the markers have aligned above the candlesticks.
MACD line is under the signal line, marking a bearish market.
Relative Strength Index indicates that the buying and the selling pressures are evening each other out.
Conclusion
As per the indicators, Awesome Oscillator, Parabolic SAR and MACD, a bearish trend is will be carry forwarded. However, Bollinger Bands and Chaikin Money Flow indicate a bullish run, but the majority of the indicators side by the bearish reign.
