Technical Analysis Of XRP

Aug 8

Over the monthly graph, the price has shown an immutable trendline support, active for a prolonged time span. From this support, the massive shoots in price have manifested before, and for several months, its price has been lurking at the same dynamic support trendline. The price had waited a very long sturdily for the catalyst and the lawsuit to get over.

Since the lawsuit has ended, a catalyst could be around the horizon. Anytime, soon the price could blast off to the moon, with current generated optimism. The ATH over the monthly chart was at $3.31700, and the low was at $0.00281. Depending on the bullish wave of investors interest could hit the XRP towards retesting the ATH.

Over the weekly chart, the 4-year high was at $1.966, and the low was $0.170; if the bullishness increases, then the ATH can be achieved sooner, with interruptions to look at $0.750 and $0.970, respectively.

The indicators are strongly bullish, as both EMA hurdles have become support after the price pierced both of them. MACD showed a bullish cross, with a histogram at 0.0110, and the RSI flashed at 56.63, above the median line.

On the contrary, situation, if the price does not grow more and bears push their price down, then the supports to watch out would be present at $0.440 and $0.280, respectively.