Analysis

XRP Attempts to Rebound After a Small Pullback – Trading Price Is at $1.25

San Francisco, CALIFORNIA – XRP tries to rebound after the price had a minor pullback. It trades in a strong note while supporting over the MA or Moving Averages of 20, 50, 100, and 200-day lines.

The performance of XRP (https://themarketperiodical.com/2021/08/20/xrp-price-%e2%80%8canalysis%e2%80%8c-xrp-price-re-attempting-to-reach-near-its-previous-52-week-highs/)  is showing a bullish moment at the monthly chart, and it starts to move higher. There was a short-term pullback for this digital asset, but the previous buying action pushes the crypto price higher. The overall medium to long-term trend remains bullish after this digital asset accomplishes to withstand its DMAs.

The MA of the short-term for 20-day and 50-day gave a positive crossover beyond the 100-day and 200-day lines. The monthly chart’s volume activity is enhanced, and it jumps beyond the volume line. The support level is at $0.9830 and $0.8480, which is on the lower side. As for the resistance, it’s at $1.38 and $1.64.

XRP Attempts to Rebound After a Small Pullback Trading Price Is at 1.25
XRP tries to bounce back after the pullback while it trades on a strong note.

The performance of the price of this crypto displays bulls’ control. However, XRP rebounds from its lower levels where the parameters display bulls. It’s earning momentum, and it might breakout over $1.38, boosting the price for a more bullish moment.

XRP’s bullish moment continued to increase where it even had the chance to reach $1.35. It indicates the boost, which is about 260% of its value. As this crypto’s smaller period MA continued to act as a support, the trend pushes the MA higher. This boost confirmed the bullish trend’s strength.

Now, XRP retreats after the bearish reversing signal, which was a short time. The price rebounded, showing how the candlestick is bullish. The performance of this crypto now made buyers ready to focus on it. Moreover, it’s targeting highs, as per the Relative Strength Index (RSI) of its weekly chart. It’s heading the overbought zone with a CMP at 60.

Aside from XRP, Ethereum also showed an excellent performance in the chart since its reversal last July.

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Gaurav Roy

Gaurav is an expert when it comes to Cryptocurrency, writing for some of the biggest Cryptocurrency websites out there.

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