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William Surberg
Jul 4, 2022
by William Surberg

XRP Technical Analysis: XRP Bearish for the Next 24 Hours?

XRP technical analysis

Table of contents

  1. Past Performance of XRP
  2. XRP Technical Analysis

Key technical points:

    • XRP technical analysis is slightly bearish.

    • XRP/USD pair found support at $0.3053.

    • The closest resistance is at $0.3734.

      • Past Performance of XRP

      In the last 24 hours, the XRP price has dropped by 5.12% and is currently trading at $0.3053. The XRP/USD pair found support at $0.3053 and is currently facing resistance at $0.3734. XRP price has formed a descending triangle pattern and is currently trading below the 20-day moving average.

      XRP Technical Analysis

      XRP is in a slightly bearish trend as it has been facing rejection at the $0.3315 resistance level over the past few days. The RSI indicator is currently at 46.39, indicating that the market is bearish. The MACD indicator is currently in a bearish crossover as the 12-day EMA is trading below the 26-day EMA. The closest support levels are at $0.2973 and $0.2850. The MACD indicator is in a bearish crossover, with the 12-day EMA trading below the 26-day EMA. The RSI indicator is presently at 46.39 and signals that the market is bearish. The closest support levels are at $0.2973 and $0.2850.

      To the upside, the immediate resistance is at $0.3315. A break above this level could move towards the $0.3500 level. However, if the price fails to sustain above the $0.3315 level, it could fall back towards the $0.3053 level where it found support earlier today.

      Upcoming Trend

      If XRP can break above the $0.3315 resistance level, it could rally to the $0.3500 and $0.3600 levels in the short term. However, if XRP fails to break above the $0.3315 level, it could soon drop to the $0.2973 and $0.2850 support levels.

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      XRP Technical Analysis: XRP Bearish for the Next 24 Hours?
      William Surberg
      Sergio is a cryptocurrency journalist based in the United States. He describes himself as late to the game, entering the cryptosphere when the price rise happened in December 2017. Having a computer engineering background, living in the United states, and being impacted by the cryptocurrency boom at a social level, he offers a different point of view about crypto success and how it helps the unbanked and underserved.

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