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OXT/USD $ 0.06790
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SKL/USD $ 0.03220
CVC/USD $ 0.08861
SAND/USD $ 0.5290
NU/USD $ 0.1500
GNT/USD $ 0.00000001
DNT/USD $ 0.02720
ANKR/USD $ 0.02588
LOOM/USD $ 0.05156
AMP/USD $ 0.002960
MANY/USD $ 0.3509
WTK/USD $ 0.02170
POSI/USD $ 0.02355
WINR/USD $ 0.00003100
DEFT/USD $ 0.00002080
ISA/USD $ 0.0001070
RULER/USD $ 0.006669
SPORE/USD $ 0.9137
DEFLCT/USD $ 0.7343
HVE/USD $ 0.0004395
JCB/USD $ 0.00004900
FWC/USD $ 0.00000000008000
FDC/USD $ 0.00000021
YETI/USD $ 0.003856
SMR/USD $ 0.06492
George Georgiev 19 Oct, 2021 cryptopotato Views: 347
XRP bulls appear to be undecisive in their recovery as the overall volume wanes. It’s essential to keep an eye on the $1 support in the near future.
Key Support level: $1
Key Resistance level: $1.2; $0.85
XRP’s price has broken below the bullish parabola (marked yellow) in our last analysis. Even though recovery is still possible, the current price action indicates that XRP is sitting on the $1 support, which acts as the last defense before a potential drop towards $0.85. The key resistance level to consider is $1.2.
Volume: The volume is flat and gives no reason to expect a rally in the near future. Moreover, in the last three days, the volume closed with a red bar.
RSI: The RSI on the daily timeframe is falling. This confirms that the immediate trend is bearish.
MACD: The histogram on the MACD has moved on the negative side, and the moving averages completed a bearish crossover. This is not a good signal for the bulls, indicating that the bears have control of the price, which may even test lower support levels, such as $0.85.
An argument can be made for the bulls that if $1 continues to hold, the price might recover. On the other hand, though, a break below that level would turn the bias bearish. This has not happened yet. However, there are some early warning signs that this may be the case, as shown by the indicators. If that happens, then the price could decrease to $0.85.
Considering the current price action, it doesn’t seem like XRP can retest the key resistance at $1.2 any time soon. Therefore, the price is more likely to remain close to $1 in the near term, based on the lack of volume and momentum. At the same time, it might be good to prepare for a possible break of support which would push XRP to lower levels as indicated above.
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