Coin-Miners - Crypto Currency Tracker logo Coin-Miners - Crypto Currency Tracker logo

NewsBTC 2022-08-27 01:00:42

XRP Price Is On The Rise But Have The Bulls Regained Momentum?

XRP Price has met with selling pressure again after it slipped from the $0.37 price mark. The altcoin has been consolidating over the past one week and over the last 24 hours, it lost 1.2% of its market value. In the last seven days, XRP price depreciated close to 8%. Confidence from buyers started to fade given how long XRP has traded below its immediate resistance mark. Broader market weakness has also set it given Bitcoin’s move to $20,800 at press time. The technical outlook for Cardano (ADA) has turned bearish which was seen by the number of sellers in the market. Due to a lack of demand for Cardano, selling strength had taken over the chart. The altcoin was trading quite close to its closest support level. The continued price action could push the XRP price to the next support line. In order for the bulls to be back, it is important that demand for XRP pushes up over the immediate trading sessions. Cardano Price Analysis: Four-Hour Chart The altcoin was trading for $0.34 at the time of writing. XRP was trading quite close to the closest support level hence, could soon fail to defend the $0.34 support line. The next support level for the coin stood at $0.31. XRP’s overhead resistance was at $0.37, the bulls were rejected from that price mark as recently as a few trading sessions ago. If XRP continues to struggle below the $0.37 mark, it could revisit $0.29 over the next trading sessions. The trading volume of ...

Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer.