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Cryptoknowmics 2022-06-25 05:59:42

XRP Technical Analysis: Trend Reversal Warns Drop To $0.30

XRP prices experience a surge in buying pressure but the resistance trendline warns of a bearish trend continuation leading to a drop under $0.30. Key technical points: The XRP market price has appreciated 10% over the past 24 hours. The price action shows a higher price rejection from the resistance trendline. The 24-hour trading volume of Ripple is $2.12 Billion, indicating a hike of 136%. Past Performance of XRP The XRP price chart showcases a falling trend under the influence of a resistance trendline, accounting for a drop of 32% to a low of $0.30. However, buyers immediately overtook the trend control resulting in a 16% price jump to $0.35. Nonetheless, the bearish trendline knocks the reversal candle under leading to a long-wick formation and warns of a downtrend continuation. Source- Tradingview XRP Technical Analysis XRP price action displays an upward trend after the trendline breakout, but the higher price rejection candles in the daily chart signify a possible reversal. Therefore, those hoping for a bull run should be patient for the market price to sustain above $1.25. The DMI indicator displays the DI lines on the verge of a bullish crossover, indicating a trend reversal. The falling trend in the ADX line supports the fall in bearish trend momentum and adds points to the upcoming bullish trend. The RSI indicator shows an uptrend starting with a reversal from the oversold boundary and gradually approaching the hal...

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