XRP/USD Technical Analysis: The coin dipped in collision of greens and reds

XRP has been one of the coins to have coped with the severe crashed experienced by the cryptocurrency market in recent times. At the time of writing, when all the other coins are showing wounded signs, XRP has shot up by 5.32%, trading at an appreciated price of $0.47 with a market cap of $19 billion. The total 24-hour trading volume is recorded at $859.7 million.

1-hour:

In the 1-hour scenario, the trend lines were extending from $0.51 to $0.48 [downtrend] and $0.43 to $0.46 [uptrend]. There is much space for price fluctuation, therefore, no indications of a trend breakout have been observed as of yet.

The Parabolic SAR is bullish on the cryptocurrency as of now. The dots are aligned below the candlesticks to provide support for the price trend.

The Awesome Oscillator is bearish on the coin as the bars are glowing red to cheer for the bear.

The Klinger Oscillator is also bullish on XRP, following the prediction of the Parabolic SAR. The reading line is shooting up to attempt a bullish crossover, hence, it is suggestive of a positive trend.

1-day:

In the 1-day timeline, the XRP candlesticks are witnessing a resistance level at $0.58. This resistance level is proven to be strong as it has not been breached till now. The upward trendline is depicting an upward trend as the trendline extending from $0.27 to $0.48 forms an ascending triangle with the resistance.

The Bollinger Bands is showing a considerable amount of volatility in the XRP market. The bands have widened a little more than earlier and are running in a broad-tunnel pattern.

The Chaikin Money Flow is bullish on the cryptocurrency at present. The reading line is climbing up further to confirm its stance on the matter.

The RSI is currently neutral on the prediction of the coin as the indicator has decided to take a horizontal path.

Conclusion:

In this technical analysis, most of the indicators are predicting a bullish trend, although multiple of them have not been able to confirm their outlook on the speculation. The Bollinger Bands are also unsure of a higher volatility in the XRP market. Therefore, it is safe to say that the coin might experience a dull trend for a while.