Ripple Technical Analysis
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Ripple (XRP) price is still struggling to gain its momentum back as XRP/USD trades at 0.29589, which is 0.96% above the previous close. In the last 1-week, Ripple price has declined by 7%. Though the XRP price has recovered recently, it’ll be an uphill task for Ripple to hold the momentum. Ripple technical analysis will give you a clearer picture of the on-going tussle between the bulls and bears.

Ripple Technical Analysis: 1-Hour Chart

The one-hour chart of Ripple (XRP) against the US Dollar is showing a downtrend from the US$0.31 to US$0.29 with strong support area formed at US$0.28. Now, let’s check the technical indicators for a thorough Ripple technical analysis –

  • Bollinger Band – A bearish trend can be seen. The candlesticks have started to form below the SMA. The XRP/USD market can witness huge volatility as the bands are seen to be diverging significantly.  
  • Chaikin Money Flow – Currently, the money inflow will be slow, evident from the dropping down of the Chaikin Money Flow (CMF) below the zero line.
  • Awesome Oscillator – It is currently located on the bearish end, indicating an increase in the formation of red bars below the zero line.

Ripple Technical Analysis

Ripple Technical Analysis: 24-hours Chart

The daily chart of Ripple price (XRP/USD) is showing a bearish trend with a clear downtrend from US$0.51 to US$0.29. While strong support is seen at US$0.27, the strong resistance level is seen at US$0.55.

  • Parabolic SAR Extended dotted indicator has clearly formed over the candlesticks. It has pushed them downwards completely, thereby further testing the support levels.
  • MACD – The Moving Average Convergence Divergence (MACD) is moving along the lowest mark currently. The signal lines, as well as the moving averages, are clearly showing a downtrend in the timeline.
  • Relative Strength Index– Oversold mark has been touched by the RSI. More importantly, the index is still continuously moving in the same direction without much progress.

Conclusion

Ripple technical analysis of both the 1-hour and 24-hours charts indicate a strong bearish presence. Strong bearish presence is seen to prevail in the long run, evident from the Parabolic SAR and MACD indicators.

 

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