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  • Ripple’s XRP is currently trading in the neck or break zone for which investors are eagerly waiting for the final momentum
  • After hitting the new 52-week of $0.7680 XRP observed strong profit booking momentum 
  • The pair of XRP/BTC is trading in red with an intraday loss of -1.64% standing at 0.00003353 BTC 
Source:Tradingview

The monthly chart of XRP/USD is in the control of bulls as the price level rose from $0.470 to $0.6700 and moving above the 9-day and 21-day moving averages. The coin after bullish momentum build-up from the level of $0.24 to $7680.However, gets corrected from the higher levels currently trading at the price level of $0.65 with the intraday gain of +3.36%. The monthly chart is also supported by the moving averages as the rally started when the 9 & 21- Day Moving Average gave the positive crossover by suppressing the 50-Day moving average. Now the 50-DMA is acting for the short-term time frame as the price candles are closing above can be considered as positive for higher levels in the coming trading sessions. 

The support for XRP is on the downside is placed at $0.4700, while the strong support is placed at $0.3000. The resistance on the higher side is placed at $0.7700 and $0.8000.

Source:Tradingview

The daily chart over 1-hour time frame indicates the bullish momentum of XRP as it continues its uptrend with training support from the trend line, act as the rising support line. But the coin is trading in the crucial area under the symmetrical triangle heading for a breakout on either side. The volume recorded in the last 24-hours is $17,222,291,989  and the total market capitalization stands at $29,449,144,018, while the last seven days performance is observed with a loss of around -6.31%.

The Relative Strength Index (RSI) after testing the overbought zone gets corrected and currently trading flat at the level of 56.87 which indicates its sustainability at the current market price level.

Directional Movement Index (DMI) is trading with the major significance of +DI over -DI  as the recent crossover is observed of ADX over +DI.

Moving Average Convergence Divergence (MACD) is not giving clear momentum but after the negative crossover, it is now ready for positive crossover indicating the positive momentum in the short team.   

Resistance levels: $0.7700 & $0.8000

Support levels:  $0.4700 & $0.300

(Excerpt) Read more Here | 2020-12-01 06:30:00

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