Ripple Price Analysis: The XRP Coin Chart shows a shooting star candle at $ 1.2 resistance

  • The XRP coin shows a bullish crossover of the 20- and 50-day EMA
  • The XRP / BTC pair is trading at 0.0002046 BTC with a loss of 5.09%
  • The 24-hour volume for XRP coins is $ 4.54 billion

As mentioned in my previous article on Ripple, the coin price completed its double-bottom pattern, hitting the $ 1.2 mark. However, the price is currently experiencing strong supply pressure above this level and is showing a long wick shooting star candle. The crypto traders can expect a brief pullback here before the price continues its rally.

Regarding the EMAs: The XRP price is showing a solid uptrend, its price is trading higher than the crucial EMAs 20, 50, 100 and 200. In addition, the coin chart also shows a bullish crossover of the 20 and 50 EMA, which is still rising more buyers in the market.

The RSI stands at 56, which indicates a bullish sentiment within the XRP coins. Additionally, the RSI line has shown impressive rebound similar to the price of the coin.

The XRP coin chart in the 4 hour timeframe

The XRP coin chart shows a clear rejection of the price above a resistance of $ 1.2. If the price decides to move down, crypto traders can expect the next support at the $ 1.02 mark. The current price of the XRP coin is $ 1.148 with an intraday gain of 1.23%.

The super trend indicator shows that the XRP coin is still maintaining its uptrend in this lower time frame.

The Moving Average Convergence / Divergence (MACD) indicator shows that the MACD and signal lines are moving higher than the neutral zone (0.00), indicating the bullish sentiment in the coin. However, these lines have also shown a bearish crossover on their chart, further confirmation of a price reversal.

Diploma: From a technical perspective, the short-term trend for the XRP coin is bearish. However, the price action has offered a fairly positive outlook on this chart where the crypto traders can look for some quick sniper traders until a definitive trend is not identified.

Support: $ 1.02

Resistor $ 1.2

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