XRP, at the time of penning down this analysis, was trading at $0.198 after an intraday lack of traction and pullback. XRP/USD lacks support from 50-day and 200-day MA as the pair slid to trading below $0.20 in the intraday. Moreover, over the past three weeks, the XRP price trend has been maintaining a stable and flattish trend due to a lack of market traction.
With many altcoins facing the dearth of traction and buyers’ demand to elevate from the current flattish move, XRP is one of those holding a bearish divergence on the 24-hourly chart. XRP/USD has marked a YTD high at $0.346, and while the market crash in March, the pair went as low as $0.111. According to the current momentum and price trend, the coin is facing strong support around $0.225, and likewise, the major support to watch out for lies at $0.175.
Moreover, if we analyze the movement of XRP on the daily chart, we see that the coin was exhibiting a subtle uptrend, and as it gained momentum to rise above $0.20, it regained the lost 50-day MA support as well. However, after the present month’s lack of trading traction, XRP has turned flat. Nonetheless, the king of the cryptos—Bitcoin is also holding moderate traction, and in due course, it has even retested support at $8,680.
The technicals are holding a bearish crossover and confirming the flatline as the MACD, and the signal line turns flat, while the RSI of XRP is lying at 48.22 and withholds no trading extremities.