• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
XRP
Sensei Inu Logo

XRP Continues To Move Laterally, Does It Have A Bearish Target Now?

anushsamal by anushsamal
1 year ago
in Cryptocurrency Market News
Reading Time: 3 mins read

XRP has been hovering within a price range over the past few days. Over the last 24 hours, the coin attempted to move slightly on the upside. The market movers also noted slight uptick on their charts after the Federal Reserve raised interest rates by 75-basis points.

Technical outlook for XRP continues to paint bearish picture for the coin. The altcoin could soon attempt to move near its next support zone. Price of XRP has just managed to remain above the $0.30 mark. Immediate fall will push the coin to trade near the $0.24 price level.

Sellers are still in panic mode as the asset continues to hover near the extreme selling zone on the chart. Bulls have tired out as choppiness has taken over the market, XRP over the last two days flashed an increase in buying strength but as the coin fell in value again, sellers have taken over.

The global cryptocurrency market cap today is at $941 Billion with a fall of 0.5% in the last 24 hours.

XRP Price Analysis: One Day Chart

XRP
XRP was priced at $0.31 on the one day chart | Source: XRPUSD on TradingView

The altcoin was at $0.31 at the time of writing. It seems to have found its support at the $0.24 price level. After consolidating between $0.40 and $0.30 levels respectively, its looks as though further downside could be on the charts.

Overhead resistance could be pointed at $0.38 as the coin has struggled to move past that aforementioned level lately. In the last week itself, XRP slumped by 22%. At the moment, the altcoin has fallen by 90% from its all time high value of $3.40.

Price of XRP last touched these lows in the month of February 2021. Trading volume displayed an increase signifying a sell-off. The bar was in the red which is a signal of bearish price action prevailing in the market.

Technical Analysis

XRP
XRP was nearing the oversold region on the one day chart | Source: XRPUSD on TradingView

The asset has touched the oversold region a couple of times both in the month of May and June. Over the last 48 hours, XRP tried recovering from the undervalued zone but again noted a fall in buying strength.

In conformity with the same, Relative Strength Index displayed a downtick and was moving close to the 20-mark. Continued selling pressure can again make XRP fall to the oversold region.

Directional Movement Index determines the direction of price change and the current price momentum.

DMI was negative as the -DI line was above the +DI line. ADX (Red) was steady above 40, which signified strength in the current price momentum. This meant that XRP could move further south.

Related Reading | XRP Consolidates, Is It Going To Retrace Now?

XRP
XRP portrayed sell signal on the one day chart | Source: XRPUSD on TradingView

Bollinger Bands indicate price volatility or incoming price fluctuations in the market. In the above chart, Bollinger Bands opened up which is a sign of increased price volatility.

Going by the other indicators that point towards bearishness, the opening up of the bands can also mean a further depreciation of price in the near term.

Awesome Oscillator displayed change in price trend and flashed red signal bars. These red signal bars are linked to sell signal for the asset.

Going by the charts, Ripple might stay near the $0.30 price level a little longer before the buyers cause the price to move upwards.

Related Reading | Bitcoin Amidst Relentless Sell Off; Is It Targeting $13,000 Now?

Featured image from UnSplash, chart from TradingView.com
Tags: price analysisRipplexrp
Tweet123Share196ShareSend
anushsamal

anushsamal

Related Posts

Bitcoin

Bitcoin And Gold Poised For Growth Amidst US Fiscal Troubles, Top Macro Investor Says

4 hours ago
New Generation of ASIC Miners released by ASICRUN

New Generation of ASIC Miners released by ASICRUN

5 hours ago
Crypto altcoins watchlist October

Crypto Watchlist For October: Altcoins To Keep On Your Radar

5 hours ago
Solana

Solana Outperforms 2 Top Altcoins – Its Ripple Effect On Prices

8 hours ago
Crypto tokens unlocked

Brace For Impact As $200 Million In Crypto Is Being Unlocked In October

18 hours ago
Bitcoin and Ethereum

Will Ethereum Flip Bitcoin? Crypto Analyst Explains How

19 hours ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • Traders Union Analysts Provide In-Depth ActiveTrades Review

    3 hours ago
  • Sportsbet.io Secures New Influencers for Ongoing Campaign

    3 hours ago
  • Meme Coins Won’t Make You Rich, But This Might

    5 hours ago
  • Everlodge, THORChain, and The Graph: Crypto Experts Predict...

    5 hours ago
  • Tradecurve Markets Set to Skyrocket 4,000% as Cosmos Hits...

    5 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.