XRP Price Surges by 2.15% but its Trend is Still Bearish, Price Analysis

XRP Price Surges by 2.15% but its Trend is Still Bearish, Price Analysis

At the time of writing, the value of XRP is worth $0.7200 per XRP. Surprisingly, the price of XRP has managed to grow up to this point after experiencing a 2.15%, pushing it up from a low of $0.6871 per XRP. This is an indication that the bulls have started buying the dips created by the bears at lower levels.

For now, the bulls are in high spirits and may try to compete with the strong selling power of the bears. Despite the bullish run, the investors are still fearing that the bears may launch their counter at any time in order to launch a strong selling spree.

XRP is currently one of the major altcoins that are being traded through cryptocurrency systems. Before Ether had made its debut back in 2015, it was XRP that was the second-largest cryptocurrency.

Still, XRP is one of the major cryptocurrencies, and therefore, many investors have their eyes set on XRP’s price in near future. The on-chain data analyzing firms carry out crypto price analysis for many cryptocurrencies, and XRP’s price analysis is among the top ones. Let us see what the technical indicators currently indicate for XRP, and how it may act in near future.

XRP’s RSI is at 39.5787

Although XRP has experienced a 2.15% elevation in the 24h time period, its overall trend is still bearish. The moving averages for XRP are currently indicating a “strong-selling” trend, where 50% of the total investors are willing to sell XRP. Only 3.8% of the total investors are willing to buy XRP versus the sellers.

The oscillators for XRP are also pointing towards a “neutral” trend. The oscillators suggest that out of the total investors, 18.18% investors are going with selling XRP. 72.72% of the total investors are going with neutral sentiments while the rest of the investors are willing to buy XRP.

The summary scale for XRP suggests that out of the total investors 57.69% investors are willing to sell XRP. Only 7.69% of the total investors are willing to buy XRP, and the rest are neutral. XRP’s relative strength index is also in the bearish zone, showing it is currently at 39.5787.

The ultimate oscillator is also within the bearish zone, showing it is at 43.1288. It goes to suggest that majority of the technical indicators are supporting a bearish trend.

XRP’s Bearish Trend

Considering the technical factors, it is predicted that the price of XRP may continue experiencing a dip. The bulls currently do not have control over the situation which is why the bears have a higher opportunity of running the trend.

For now, it is indeed the bears who are steering the trend in their favor. If the bears keep growing more persistent in selling XRP, then the price of XRP may plunge even lower.

At the time of writing, the price of XRP is at a low of $0.7200 per XRP. If the bears continue selling XRP, then the price of XRP may plunge to $0.6970 per XRP.

Going forward, the bears may continue with their selling spree, pulling the RSI and the ultimate oscillator even lower. This would eventually pull the price of XRP to a low of $0.5772 per XRP.

Over time, as the price of XRP hits the second support milestone ($0.5772), more investors may start moving towards the bearish trend. They may also start selling XRP in order to save themselves from any further losses.

If the investors do start moving into the bearish zone, they would literally start selling XRP at a really high rate. This may trigger a strong selling spree, which may drag the price of XRP to a low of $0.4612 per XRP.

XRP’s Bullish Trend

At the moment, the bulls are trying hard to sustain the selling pressure coming from the bears at $0.7200 per XRP. If the bulls succeed in doing that, then they may gain the opportunity of pushing XRP’s price higher.

Going forward, the investors may increase their buying power in order to run a strong bullish trend. Once the trend is initiated, the price of XRP may rise up to a high of $0.8130 per XRP.

Once XRP hits $0.8130, the bulls may trigger a strong buying spree, which may elevate XRP’s price to $0.9031 per XRP. If the rally persists for a longer period of time, XRP’s price may elevate to $0.9587 per XRP.

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