XRP has been on a steady path to recovering from last month’s sudden drop in price. However, its recent drop of 8% in 5 hours on the 23rd has pushed its recovery plans back slightly. But all is not lost. With its market cap is currently over $13 billion and the trading volume over the last 24 hours at nearly $3.42 billion, its 7.02% rise in the last day (according to CoinMarketCap) could be a signal that XRP is fighting back.
XRP was traded the most on the BW.com exchange which was responsible for 4.77% of the overall trade.1-hour chart
Resistance 1: $0.32923
Resistance 2: $0.30843
Support 1: $0.26600
After Resistance 1 on the 23rd, XRP seems be rising, with a valuation of $0.277 at the time of writing.
The converging of the Bollinger Bands show that price volatility is lower than before.
Chaikin Money Flow has been moving near the centre line, indicating more or less equal distribution and accumulation.
Awesome Oscillator exhibited the appearance of red with weak bearish momentum as the bars looked to be getting progressively smaller.1-day chart
Resistance 1: $0.37015
Resistance 2: $0.32606
Support 1: $0.28353
Support 2: $0.24183
The 1-day chart indicated that the price of XRP was testing Support 1, showing a likelihood of breaching it.
Relative Strength Index was moving just below the 60 mark, leaning towards being oversold.
Parabolic SAR suggests the XRP is in a slight bearish market, as the dots appear over the price candles.
MACD indicated bullish momentum, with the signal line having just touched the MACD line, about to make a crossover.Conclusion
XRP should be relatively stable in the short term, with low price volatility, while the long term chart indicates a slight bearish movement.