03 October 2022 : In this article we will walk you through XRP price analysis for today or for next week and try to answer these frequently asked questions (FAQs), what is short term price prediction for XRP, Is XRP a good investment? XRP support & resistance levels etc. But before diving deep into the XRP technical analysis, let us talk about the current market conditions.
Over the last twenty-four hours, there was a down fall of -1.34 percent, bringing the entire cryptocurrency market to $942,335,049,517. The total trading volume stands at $55,864,137,628. Bitcoin shares 39.85 percent of the entrie market while Ethereum has a dominance of 16.12%.
which resulted in Bitcoin's price rising to $19,591.61 level after an upward movement of 2.06%. A number of alternative cryptocurrencies, like ETHEREUM has seen a price increase of 2.04 percent reaching to $1,322.00 during the previous 24 hours.
While publishing this blog, BNB traded at $288.00, following a price change of 1.43% within the same time frame. XRP the native coin of XRP is down by -0.28 and currently trading at $0.46. Additionally, Cardano reached $0.43 after seeing a uplift of 0.43% in value.
These events indicate that the market is heading in a downward direction for short term. At this moment, a general negative dip can being seen throughout the crypto market.
Support and resistance are important technical indicators used to identify key price levels where the trend can change direction. Support is a level at which buyers become more active and stop the coin's price from falling any further. Similartly, Resistance is a level at which sellers become move active and stop the coin's price from moving higher.
Following are the support and resistance levels of XRP (XRP)
|XRP Resistance Levels||XRP Support Levels|
|Resistance Level 1||$0.51||Support Level 1||$0.42|
|Resistance Level 2||$0.56||Support Level 2||$0.37|
|Resistance Level 3||$0.60||Support Level 3||$0.33|
The daily chart of XRP shows that the XRP price has a downward movement with a -0.28% decrease in past 24 hours. The price value of the XRP (XRP) coin is standing at $0.46 with market capitalization $22,850,374,961.00 USD. XRP price changes -3.85% over the week while the trading volume is hovering around $1,805,382,460.00 USD.
XRP price analysis for 03 October 2022 within a daily time frame explained below. we use Relative Strength Index(RSI), Moving Average Convergence and Divergence (MACD), Support levels, Resistance levels, different time period moving averages including Simple Moving Average (SMA) and Exponential Moving Average (EMA) to analyze the future movement of the XRP.
|Simple Moving Average (10)||0.48||Sell|
|Exponential Moving Average (10)||0.48||Sell|
|Simple Moving Average (20)||0.43||Buy|
|Exponential Moving Average (20)||0.43||Buy|
|Simple Moving Average (50)||0.38||Buy|
|Exponential Moving Average (50)||0.38||Buy|
While XRP’s Williams %R indicator is at -37.827 for the 14-day time period indicating a neutral condition.A trade signal is possible at this range. The immediate resistance for XRP is found at $0.51, and a breakout from this level could leads towards the next resistance, which can be found at $0.56. On the other hand, if the bear take control and XRP price fails to break out above $0.51, it could fall back towards the crucial support at $0.42. The Relative strength index (RSI) for XRP Coin is currently hovering at 69 for 14-days average line, which means XRP is moving towards overbought zone. The MACD line is standing above of the signal line after a positive crossover. XRP investors need to wait for any directional change over the daily chart.
There had been a negative trend for some time and it seems that the coin's recuperation will continue as long as it remains in the reddish area. You should only acquire crypto right now if you're prepared to hold it through the ups and downs of the crypto market.