The market has embraced Binance Coin [BNB] in the top-10 list of cryptocurrencies, while other major coins are managing to hold on to their positions. XRP, the second-largest coin has been giving a tough fight to the bear and holding its ground.
At the time of press, the coin was valued at $0.2909, with a market cap of $11.9 billion. The coin has recorded a 24-hour trade volume of $405 million while registering a fall over seven days of 8.84%. The coin is still falling by 0.32% over the past hour and is under the wraps of the grizzly bear as it continues to register fall by 0.52% over the past day.
As per XRP’s one-hour chart, a steep fall was observed from $0.3038 to $0.2930. The coin has been falling and thus has observed another downtrend from $0.3012 to $0.2964. The coin marked a resistance at $0.2964, while support was noted at $0.2929.
Bollinger Bands appear converged, reducing market volatility. The moving average line is above the candlesticks, indicating a bearish market.
Awesome Oscillator points towards a bullish market with a weakened momentum.
Chaikin Money Flow indicates a bullish market as the marker is over zero.
The one-day chart of the coin marks an uptrend from $0.3465 to $0.5639. However, it is followed by a downtrend from $0.5821 t0 $0.5027. The downtrend continues from $0.5551 to $0.3276. The coin marked a resistance at $0.3276 and support at $0.2926, while another support was observed at $0.2895.
Parabolic SAR indicates a bearish market taking over, as the markers have assembled above the candles.
MACD line is under the signal line right after a crossover, marking a bearish market.
Relative Strength Index indicates that the buying and the selling pressures are evening each other out.
As per the majority of the indicators like Chaikin Money Flow, and Awesome Oscillator, the bull is ready to rave, however, Parabolic SAR and MACD tell a different story of bears taking over the coin.