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XRP Price Hits Double Digits, Can Buyers Hold This Level?

The price of XRP has increased significantly over the last 24 hours. The coin has registered over 10% growth in the past day.

The coin also gained 10% last week. Overall, the XRP bulls appeared to be dominating the chart.

The coin may slowly attempt to trade near the next resistance mark, and may surpass that price mark as demand increases.

The support zone for that price was between $0.43 and $0.39 respectively. It is important that XRP returns to $0.51, which acts as a strict price cap for the coin.

The coin will intensify its bullish move if XRP rises above $0.51. Technical indicators for the coin point to increasing bullish momentum.

Buyers are back on the market, albeit with fewer buyers. A decline in sales power will help XRP break above the $0.51 level.

The market capitalization of cryptocurrencies in the world today is $978 billion. 2.2% Positive change in the last 24 hours.

XRP Price Analysis: 1-Day Chart

XRP has priced at $0.43 on the 1-day chart. Source: XRPUSD on TradingView

The altcoin was trading at $0.43 at the time of writing. XRP price he surged to $0.56 and then followed the chart.

However, on this day, the coin started rising on the charts. The coin’s immediate resistance was his $0.51 and then $0.56.

On the other hand, the support line is at $0.41 and if it falls from that level, the price of XRP will drop to $0.34. That will make the bears stronger in the market.

The amount of XRP traded in the last session is showing signs of a decline, indicating that the buying strength on the chart may have decreased.

technical analysis

XRP Price
XRP Shows More Buying than Selling Strength on 1-day Chart | Source: TradingView’s XRPUSD

Altcoins were still controlled by bulls on one chart. As the coin experienced a pullback, the buying strength on the chart also decreased.

The Relative Strength Index has more than halved, indicating an increase in the number of buyers compared to sellers. If demand drops, sellers can always take over.

XRP’s price is above the 20-SMA and 50-SMA lines, indicating that demand for this coin is still very high. This meant that buyers were controlling the price momentum in the market.

XRP Price
XRP Shows Buy Signals on 1-day Chart | Source: XRPUSD on TradingView

Other indicators also continued to point to buyers being present in the market. The Moving Average Convergence Divergence represents the coin’s price momentum and overall price action.

MACD was positive with green signal bars. This means a buy signal for the coin. The green signal was retreating. This means that the price may pull back in the next trading session.

Bollinger Bands show price volatility and fluctuations. The widening indicates that the next trading session may see more price volatility.

XRP Price Hits Double Digits, Can Buyers Hold This Level?

Source link XRP Price Hits Double Digits, Can Buyers Hold This Level?

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