XRP is very close to being accepted by the financial institutions as Ripple journeys on with partnerships. The prices of XRP have seen quite a rally last week and its effects are seen in the longer time frame.
The price of XRP, at the time of writing, was trading at $0.3702, with the market cap of $14.69 billion. The 24-hour trading volume is holding at $602 million.
The uptrend for XRP has finally come to power as it extends from $0.286 to $0.3577, while the downtrend extends from $0.393 to $0.327. The prices for XRP in the one-hour chart are being supported at $0.2866. The resistance points are hanging at $0.3533, $0.3752, and $0.4040.
The Aroon indicator shows that the uptrend that was underway is in full strength, which means that the downtrend has exhausted.
The Stochastic indicator shows a positive sign as the Stochastic line has overtaken the signal line in a bullish crossover
The Chaikin Money Flow shows a negative outlook as the CMF is below the zero-line, indicating that the money flowing out of the market is still higher than the money influx into XRP markets.
The downtrend for XRP extends from $0.9027 to $0.3873, with an uptrend yet to be formed. The prices are supported at $0.2627, with resistance points hanging at $0.5821, and $0.6899.
The Parabolic SAR shows a positive sign as the markers have formed below the price candles, indicating a bullish trend.
The MACD indicator shows a bullish crossover on the negative side of the zero-line and the lines are heading upwards.
The Awesome Oscillator shows green lines diminishing in height below the zero-line, indicating a possible bullish crossover.
The one-hour chart is lit up with green candles and is indicated by the indicators, Aroon, Stochastic, and CMF. The one-day chart also shows positive signs which are indicated by the SAR, MACD and the AO indicators.
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