The XRP market is trying to maintain a balance between demand and supply after the market experienced a very strong bullish move on the 22nd of September. Before the bullish market of the 22nd of September, the market had been in a steady price appreciation. But it could not progress further. From the 24th of September till date, the market is moving sideways.
XRP Market Price Statistic:
- XRP/USD price now: $0.470
- XRP/USD market cap: $
- XRP/USD circulating supply: 49.89B
- XRP/USD total supply: 99,989,258,607
- XRP/USD coin market ranking: #6
- Resistance: $0.500, $0.525, $0.556
- Support: $0.446, $0.441, $0.4000
XRP Market Price Analysis: The Indicators’ Point of View
After the price skyrocketed on the 22nd of September, the XRP market was able to secure a stable support level at $0.44564. This new support will serve as a basis for another bullish performance. Looking at the Bollinger band, we can see that the moving average of the indicator is now moving horizontally. This Bollinger moving average was moving in an ascending manner before it begin moving horizontally from the 11th of October. This supports the consolidating market sentiment.
On the 18th of October, sellers took the market and this made the MACD line drop slightly and it was almost catching up with the signal line below it. But due to the bullish recovery of yesterday and today’s market, the MACD line is showing signs that it will soon take up its upward journey.
XRP/USD 4-Hour Chart Outlook
The bulls had the XRP market as they don’t allow bears a space in today’s market. But In the first two sessions of today bears had the market, but the strong bullish move did not allow them to push the market of XRP down. The dojis that represented the two sessions signaled that the bulls will soon take over. And they aggressively took over in the third session. No signs of selling were seen in the third session. But in the fourth session, the bullish doji candle that had appeared on the chart for that session might also be a signal that sellers are gathering momentum to aggressively take the market soon.
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