In a sideways cryptocurrency market, XRP is depicting no out-of-the-box movement as its prices have succumbed to sidewayds movement. At the time of writing, the coin was up by 1.14%, with a market cap of $20.33 billion. The total 24-hour trading volume was recorded at $371.6 million.


1-hour:


XRPUSD 1-hour candlesticks | Source: tradingview

XRPUSD 1-hour candlesticks | Source: tradingview


In the one-hour scenario of the XRP candlesticks, the price concentration has reached close to its peak, with the trendlines $0.5 to $0.46 [downtrend], and $0.51 to $0.54 [uptrend] nearing an intersection. A trend breakout might occur soon as suggested by the trendline patterns.


The Parabolic SAR is suggestive of a positive price trend for the cryptocurrency. This is evident by the dots that are aligned right below the candlesticks to show support for the bull.


The MACD appears to be neutral on the prediction. However, the MACD made a mild crossover by the signal, in favor of the bull, to deliver a positive stance.


The Awesome Oscillator does not agree with the above indicators as the bar has turned red for now.


1-day:


XRPUSD 1-day candlesticks | Source: tradingview

XRPUSD 1-day candlesticks | Source: tradingview


In the longer run, the trendlines extend from $0.58 to $0.55 [downtrend] and $0.27 to $0.45 [uptrend], wherein the possibility of a breakout in the price trend is not visible at present.


The Bollinger bands are not predicting much volatility in the XRP market. The bands are following a narrow pattern and have formed a bottleneck.


The RSI bounced back after making contact with the overbought zone. The indicator is currently bullish on the market and is approaching upwards.


The Klinger Oscillator has taken a neutral stance on the matter, similar to the MACD. The reading line made a bullish crossover by the signal, but soon began to travel in a straight path, alongside the signal line.


Conclusion


The majority of indicators in the technical analysis are bullish on the upcoming price trend of XRP. However, not much volatility is expected at this point, which is evident by the shape taken by the Bollinger bands.


The post XRP/USD Technical Analysis: No bears in sight as the grass turns greener appeared first on AMBCrypto.




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