Tag Archives: XRP Analysis

A very disheartening week in the crypto market has come to a close. Ripple saw its second-worst weekly candle since May and dropped more than a third of its market value over the last week. Technical Analysis By Grizzly The Daily Chart On the daily chart, the negative momentum slowed marginally as the asset approached the support zone in the $0.3 to $0.33 region (in green). However, this cannot be considered the end of the downward spiral. After 50 days, XRP hit the...

Ripple has been experiencing a short-term stage of consolidation following low volatility. The cryptocurrency has formed a well-known bearish flag pattern and has dropped to the middle boundary. This is an important price region, and the upcoming price action will likely determine its mid-term direction. Technical Analysis By Shayan The Daily Chart The cryptocurrency was recently rejected by the upper trendline of the bearish flag pattern and dropped to the middle boundary....

This week, we take a closer look at Ethereum, Ripple, Cardano, Binance Coin, and Polygon. Ethereum (ETH) Ethereum had a very strong rally in the past seven days, increasing by 19.4%. This makes it the best performer on our list this week. Such volatility has not been seen since September and signals a possible reversal in the downtrend. If ETH manages to make a higher high in the coming weeks, then that would confirm the reversal. The price is currently found just below the...

This week, we take a closer look at Ethereum, Ripple, Cardano, Binance Coin, and Solana. Ethereum (ETH) Ethereum’s price has remained largely flat with little volatility. For this reason, it is almost identical to seven days ago. Momentum and volume continue to move sideways with no perceivable trend at this time. The key support remains at $1,250, and the resistance at $1,400. The price is stuck in a channel, and it can comfortably move sideways until the end of the month...

Ripple has bounced from its recent sharp decline, perhaps indicating that buyers are still controlling the market. This structure has provided another opportunity to retest the overhead resistance. Technical Analysis By Grizzly The Daily Chart: Although Ripple has not succeeded in its repeated attempts to break the resistance zone (in red), the positive momentum is still apparent in the market. The emergence of higher lows in the lower timeframe signals greater buyer...

Despite several attempts to push the price above $0.50, XRP has been unsuccessful in stabilizing around this level. Technical Analysis By Grizzly The Daily Chart The cryptocurrency continues to challenge the $0.50 resistance, but, unfortunately, to no avail. It’s failed to overcome this level three times in just as many weeks. Breaking above it would position the asset to retest the descending line (in red). If it manages to clear this barrier, the price will have better...

This week, we take a closer look at Ethereum, Ripple, Cardano, Binance Coin, and Polygon. Ethereum (ETH) With an increase of only 1.4% in the past seven days, Ethereum continues to maintain a flat price action, with market participants unable to swing the cryptocurrency beyond its current range. Since mid-September, ETH has only been moving sideways between the key support at $1,250 and the resistance at $1,400. The last time it tested the key resistance was on September...

Ripple is on the verge of breaking the 5-month consolidation range. Doing so could cause the bullish rally we saw last month to resume. Technical Analysis By Grizzly The Daily Chart Although XRP concluded the week with a red candlestick, the daily chart suggests an increase in buying pressure. The cryptocurrency hit the descending line (in yellow) 10 days ago, which had been a major barrier over the past 300 days. In hindsight, testing the static resistance at $0.55 (in red)...

With only two days remaining for September, XRP records its best month so far. However, the bearish trend reversal has not yet been confirmed. Technical Analysis By Grizzly The Weekly Chart Last week, XRP reached (and was rejected) to a critical level of $0.56 on the weekly chart. This resistance is combined of the ascending line (in yellow) and the red horizontal resistance. As a side note, it’s not uncommon to see a weekly red candle after multiple green candles. Unless...

Ripple, as the fourth-largest cryptocurrency by market capitalization, saw increases of over 30% during the last 7 days, according to CoinGecko.  The price extended to nearly $0.56 on Friday but got quickly rejected. Technical Analysis By Grizzly The Daily Chart The XRP/USDT trading pair reached a key support turned resistance level, for the first time since May 9, on the daily chart. Additionally, the price finally closed a daily candle above the 200-day moving average line...