XRP Continues to Struggle Over the 20-day SMA in the Short-term
California, USA – XRP consolidates at higher zones, but it struggled close to the 20-day short-term moving averages or MA after gaining a strong momentum.
XRP has been on higher zones after the strong moment from its lower area. Now, it’s consolidating over the short-term MA of 20-day, and it tries to hold it. After facing a slow rejection on the higher zone, the coin is experiencing a selloff. The volume is boosting at the monthly chart, and it needs further improvement for another round of positive moments.
XRP is also in the current scenario, and it trades over the vital MAs of 20, 50, 100, and 200-day trends. Also, the short-term MA of 20-day and 50-day works as primary support lines. On the other hand, the support on the lower side is at $0.96 and $0.82. As for the resistance level, it’s between $1.36 and $1.64.
XRP has been moving sideways since the previous trading session, as per the weekly chart, while the volume activity is on average. On the other hand, the technical parameters show a mixed performance, where the altcoin heads lower with a low volume. Analysts can see how strong the trend is if the volume activity of XRP will boost in the next trading days. Now, the price of XRP is at $1.13, and the volume to market capitalization ratio sits at 0.06738.
The Relative Strength Index or RSI of this crypto indicates a neutral trend and sideways in the weekly chart. The RSI is exchanging flat, below the neutral area, without any sign of an important trend. Moreover, the CMP is at 47.
On another note, another analyst shared its analysis about the movement of XRP. As per the 2-Week-Chart, the Stochastic RSI is over 20 level, and the momentum is moving rapidly, switching from bearish to bullish.