• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
XRP
Nexo Logo

XRP Has Broken Below Its Long Standing Support, What’s Next?

anushsamal by anushsamal
1 month ago
in Cryptocurrency news
Reading Time: 2 mins read
Advertisement

XRP flashed lateral price movement at the time of writing. The coin register some gains over the last 24 hours however, it was quite minor. Bulls are not completely back in the market yet. For bulls to be back in the market, it is essential for XRP to move above the $0.60 mark.

Technical outlook of XRP hasn’t completely pointed towards a recovery because the bears are still in charge of the price. The one day chart of the XRP has continued to depict bearishness on the chart. Over the last week, XRP fell by almost 7%.

Although the coin has printed a symmetrical pattern on the chart, which also means that XRP has a chance of moving on the upside it is uncertain if the altcoin will be able to hold onto its current price action.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

This directional breakout from the symmetrical triangle could either make the altcoin trade towards the north or towards the south.

XRP Price Analysis: One Day Chart

XRP
XRP was priced at $0.41 on the one day chart | Source: XRPUSD on TradingView

The altcoin was trading at $0.41 on the one day chart. XRP was also trading beneath its long standing support line of $0.42. The asset hadn’t gone below the aforementioned price level in almost over a year. A push below the current price mark will make the coin trade beneath the $0.30.

A break below the $0.30 price mark could push XRP near the $0.24 price level. Since the coin registered a small symmetrical triangle and it can be so that XRP can either go up or down from here, the overhead resistance for XRP was at $0.48.

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

For bearish thesis to be invalidated the coin needs to trade above the $0.56 resistance mark.

Technical Analysis

XRP
XRP registered an increase in buying strength on the one day chart | Source: XRPUSD on TradingView

XRP recovered on the chart and the coin moved away from the oversold region. The Relative Strength Index was above the 20-mark, which meant that the coin wasn’t undervalued. Buying strength came back in the market but the altcoin was still in the grasps of the sellers.

If continued selling pressure remains then the coin might trade close to the immediate resistance mark. The asset was also below the 20-SMA line and this is in accordance with sellers being in control. This reading meant that sellers were responsible for the price momentum in the market.

Suggested Reading | Ripple (XRP) Plunges To $0.43 With Bears In Full Swing

XRP
XRP was registering a buy signal on the one day chart | Source: XRPUSD on TradingView

Bollinger Bands are used to depict the price volatility of the asset. On the one day chart, Bollinger Bands were seen wide open. This reading meant that the coin was not about to witness immediate price fluctuations in the market.

It can be so that the coin might continue consolidating over the next trading sessions. Awesome Oscillator depicted green signal bars as price momentum was slowly registering a bullish change.

The green signal bars also mean that there is a buy signal in the market which correlates to positivity in terms of price action. If buyers act on it then the coin might manage to move upwards but it is still uncertain if that would be the case.

Related Reading | Ripple Price Falls Below $0.43 As Bears Take Control Of The Market

Tags: price analysisxrp
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
anushsamal

anushsamal

Related Posts

Greek Artist Sends Pro-Freedom Message with Assange NFT Drop

Greek Artist Sends Pro-Freedom Message with Assange NFT Drop

7 hours ago
World Of Women, screenshot from the website

Blue Chip NFTs 101: The World Of Women Collection, Including And Conquering

12 hours ago
crypto bear

Leading Crypto Exchanges See Negative Funding Rates, Have The Bears Taken Over?

15 hours ago
bitcoin

Why Bitcoin Could Return To $28,000, But By The End Of 2022

16 hours ago
$15k Possible Bottom For Bitcoin? “Delta Cap” Says So

$15k Possible Bottom For Bitcoin? “Delta Cap” Says So

19 hours ago
bitcoin bear

New Bitcoin Record Paints Incredibly Bearish Picture As BTC Struggles At $19,000

21 hours ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

Don’t Miss Out On Experts’ Top Crypto Picks! Gnox (GNOX), Algorand (ALGO) And VeChain (VET) Set To Lead Bullish Market

July 2, 2022

LBank Exchange Will List DEBT on July 5, 2022

July 2, 2022

LBank Exchange Will List Metavie Token (METAVIE) on July 5, 2022

July 2, 2022

Holon (HLN) Is Now Available for Trading on LBank Exchange

July 2, 2022

LBank Exchange Will List METAFASTEST (METAF) on July 1, 2022

July 2, 2022

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.

COMPANY

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

Technical Analysis

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

LINKS

Crypto Prices from Nomics

Cryptocurrency news

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

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 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.