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The cryptocurrency market fell prey to angry bear. XRP, the second-largest coin on the CoinMarketCap list, has dropped more than 5% in the past 24 hours and is seen to be stalling a likely recovery.
At the time of the press, the coin was valued at $ 0.2915 with a market capitalization of $ 12 billion. The coin had a trading volume of $ 452 million over 24 hours and a 5.95% jump over the last day. The market does not look attractive for the coin as it plunged 8.87% the day before and continues to fall by 2%.
1 hour
Source: Negotiation View
XRP reported a mbadive downtrend in the one-hour chart, which went from $ 0.3184 to $ 0.2935 with no significant uptrend in the surrounding area. The coin showed resistance at $ 0.3020 and support at $ 0.2935.
Awesome Oscillator indicates a strong bear market.
Bollinger Groups shows that the volatility of the market is high because the ranges have diverged. The moving average line is above the candlesticks pointing to the reign of the bear.
Chaikin flow also points to the bear market because the marker is below zero.
One day
Source: Negotiation View
The daily chart for the coin showed a significant upward trend from 0.4467 USD to 0.5736 USD. The coin then dipped and a downward trend was marked from $ 0.3826 to $ 0.2932 with a marked resistance at $ 0.3754. The coin showed strong support at $ 0.2931.
Parabolic SAR indicates a bear market as the tags line up above the candlesticks.
MACD The line is under the signal line after undergoing a recent crossover transforming the market into a bear market.
relative strength index indicates that buying and selling pressures have eased.
Conclusion
As the bear hit the market forcefully, all indicators predict a downtrend. The piece has been suffering since January 27th and is still struggling against the vermilion market.
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