Ripple Price Analysis: XRP Market Depth Indicates Many Sellers Above Price $1.00

May 27, 2021 John Ripple 0

  • XRP is down by 0.32% and faces difficulty to remain above 1.00 $ 
  • Forms an Ascending Trend Line on 2 hour Time Frame
  • The pair of XRP/BTC is trading negative with a loss of -0.31%, standing at 0.00002569 BTC

Price getting holds off, taking Resistance from the 100 Exponential Moving Average. However, the price is making higher lows at the moment, gaining a Bullish momentum. The price has to break Level 1.0754 $ to have a good Bullish

rally till a target of about 1.15 $ to 1.20 $. If it doesn’t break, it is most likely to move in range.

Forming an Ascending Triangle pattern, with a small Bullish Trend

If Levels 1.00 $ and 1.075 $ are broken, then the price will go up. Looking ahead, the price is most likely to go Bullish. Indications from the Exponential Moving Averages, EMA (50) and EMA (100), EMA (50) about to cross EMA (100) [shown in the first figure]. Buyers are trying to take control of the momentum, with the Bearish pressure decreasing.

RSI, Relative Strength Index is at around 56.80, which is above the midline by a good extent. The coin is still not overbought, but if in case the value goes above 60 / 62 then there can be chances of a downtrend because of overbuying of the coin.

MACD, Moving Average Convergence Divergence, is showing positive indications at a value of 0.003.

The Blue Line (Buyer’s Line) is about to cross over the Orange Line (Seller’s Line), giving a positive crossover and signs of Bullish Trend.

Support Levels – $ 0.83, $ 0.90 and $ 1.00

Resistance Levels – $ 1.00, $ 1.07, $ 1.26, $ 1.32