XRP/USD Technical Analysis: Could bears cause blood-spill over the green grass?

Across the cryptocurrency board, XRP is the only coin to be witnessing green figures post the market crash. Furthermore, the coin has managed to sustain the second spot after racing Ethereum [ETH].

At the time of writing, the token was up by 0.15%, trading at $0.47 with a market cap of $19 billion. The total 24-hour trading volume was recorded at

1-hour:

XRPUSD 1-hour candlesticks | Source: tradingview

XRPUSD 1-hour candlesticks | Source: tradingview

The 1-hour analysis of the XRP candlesticks depicts two trend lines wherein the downtrend extends from $0.51 to $0.48 and the uptrend stretches from $0.43 to $0.47. There is a clear indication of a trend breakout as the trendlines are about to collide into each other.

The Parabolic SAR is presently negative on the coin’s fate. The dots are aligned above the candlesticks, pushing the price downwards.

The Awesome Oscillator is bullish on XRP as the bars are glowing green as of now.

The Chaikin Money Flow is seen taking a downward approach to predict a bearish market for the token.

1-day:

XRPUSD 1-day candlesticks | Source: tradingview

XRPUSD 1-day candlesticks | Source: tradingview

In the 1-day scenario, the XRP price trend is witnessing an uptrend from $0.27 to $0.47 and a resistance level set at  $0.58. The support line is forming an ascending triangle with the resistance level, suggesting a progress in the XRP market.

The Bollinger Bands are not predicting an increased volatility in the price trend. However, the bands have left space for the prices to fluctuate, forming a wide tunnel-pattern.

The MACD has just made a bearish crossover by the signal. The reading line is approaching further down to side with the bear.

The RSI has taken a neutral stance on the subject. The indicator was moving downwards but begun traveling horizontally, denying to confirm the coin’s fate.

Conclusion:

In this technical analysis, the majority of the indicators are projecting a negative price trend for XRP. A trend break out is predicted as well, but the Bollinger Bands are have suggested low volatility in the market.

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