XRP/USD Technical Analysis: Bear takes the lead in the game of coins

The first month of 2019, took the coins on a ride, where they saw new highs and staggering lows. XRP, the second-largest coin on the CoinMarketList, lost its second position for a while to Ethereum [ETH], however, acquired it back in no time.

At the time of press, the coin was valued at $0.3064, with a market cap of $12.6 billion. The coin reported the 24-hour trading volume of $484 million, while growth was noted by 1.32% over the past day. The coin dipped by 3.36% over the past week and is establishing a hold on the bull by noting the growth of 0.04% over the past hour.

1-hour

Source: Trading View

The one-hour chart of XRP noted a downtrend from $0.3190 to $0.2930, followed by an uptrend that ranged from $0.2917 to $0.3390. The coin again faced a downtrend from $0.3389 to $0.3140. The coin marked resistance at $0.3140 and support at $0.339.

Awesome Oscillator points towards a weakened bearish trend.

Bollinger Bands appear to be converged, indicating reduced volatility in the market. The moving average line is over the candlesticks, marking a bearish market.

Chaikin Money Flow also marks a bearish market as the marker points under the zero zone and closer to the overbought zone.

1-day

XRP/USD Technical Analysis: Bear takes the lead in the game of coins

Source: Trading View

The coin marked an uptrend from $0.3674 to $0.5649, after which it went sideways movement for a while. The coin then noted a downtrend from $0.5554 to $0.3274. XRP marked resistance at $0.4144 and support at $0.2914.

Parabolic SAR indicates a bullish market as the markers have aligned under the candlesticks.

MACD line is above the signal line right after a crossover, marking a bullish trend.

Relative Strength Index indicates that the buying and the selling pressures are evening each other out.

Conclusion 

As per the majority of the indicators, Awesome OScillator, Bollinger Bands, and Chaikin Money Flow, a bearish market is predicted. However, Parabolic SAR and MACD are being optimistic is forecasting a bullish market.

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