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XRP/USD Technical Analysis: Cryptocurrency falls back into the bear groove after surprise bull run


The cryptocurrency market’s wayward motion has been ongoing for a long time now with several proponents of the space still claiming that the field will recover. After last week’s surprise bull run, the cryptocurrencies have fallen back into its routine sideways movement punctuated with bullish spikes and bearish drops. Bitcoin [BTC], XRP and Ethereum [ETH], the top-three cryptocurrencies have not been averse to this bear attack as the big three are struggling to cope with the price hits too.

1-hour:

Source: TradingView

Source: TradingView

The one-hour graph for XRP shows a sudden bullish spike of last week that has lifted the coin’s immediate support. The uptrend lifted the price from $0.29 to $0.31. The support has been holding at $0.292 while the resistance is at $0.323.

The Bollinger band shows the upper band and the lower band moving in a parallel fashion, a sign of the sideways movement of the market. The lack of convergence or divergence is also signified by both the bands.

The Chaikin Money…



Read Full Story : AMBCrypto

2019-02-11 17:00:47

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