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XRP/USD Technical Analysis: Cryptocurrency falls back in the bear trap after bullish spike euphoria

The cryptocurrency market’s behavior has been quite stagnant with investors and users being affected due to the constant bear attacks. Popular cryptocurrencies like Bitcoin [BTC], XRP and Ethereum [ETH] have all fallen in value, a situation that has not changed despite multiple updates on the network front. XRP has captured news headlines multiple times over the past few weeks due to its unrelenting push to make cryptocurrency usage mainstream.

1 hour:

The one-hour graph shows a sudden increase in value as the bear trend seems to have settled back into its groove. The support has been holding at $0.287 while the immediate resistance is at $0.339. The recent uptrend lifted the value of XRP from $0.294 to $0.34.

The Relative Strength Index shows the cryptocurrency staying near the oversold zone. This is a sign of the selling pressure being more than the buying pressure.

The Awesome Oscillator displays the pickup in market momentum as shown by the graph.

1 day:

XRP’s one-day chart…

Read Full Story : AMBCrypto

2019-02-01 10:28:45

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