XRP is the currency that runs on a digital payment platform called RippleNet, which is on top of a distributed ledger database called XRP Ledger. The RippleNet payment platform is a real-time gross settlement (RTGS) system that aims to enable instant monetary transactions globally. While the idea behind the Ripple payment platform was first voiced in 2004 by Ryan Fugger, it wasn’t until Jed McCaleb and Chris Larson took over the project in 2012 that Ripple began to be built. At the time, it was also called OpenCoin.

Let us look at the technical analysis of XRP.
<h2><b>Past Performance</b></h2>
XRP opened at $1.09 on October 22, 2021. On October 28, 2021, it closed at $1.06. Thus, the price remained relatively stable <a href="https://www.cryptoknowmics.com/news/xrp-technical-analysis-the-last-fall-impulse-before-the-growth-start/">across the week</a>, with a change of 2.75%. In the last 24 hours, it traded between $1.03 and $1.085.

<img class="tv-snapshot-image" src="https://s3.tradingview.com/snapshots/d/DGHMBRCs.png" alt="TradingView Chart" />

Source: <a href="https://www.tradingview.com/x/DGHMBRCs/">https://www.tradingview.com/x/DGHMBRCs/</a>
<h2><b>XRP Technical Analysis</b></h2>
The XRP is trading in a box for a while. The movement is between the resistance at $1.165 and the support at $0.945. An uptrend can be seen, if the price breaks the first, second, and third resistance at $1.107, $1.165, and $1.233, respectively. However, if the price falls below the supports at $1.016 and $0.945, then a downtrend may be seen. The current trading price is $1.064 which is 0.58% higher than the previous day’s close.

<strong>OBV</strong> is showing that the buying and selling volumes are almost equal. This means the price has a balanced pressure, and thus it may remain inside the box.

<strong>RSI</strong> is at 48.62% and is moving below the equilibrium. This is a signal that XRP has low strength and the price is likely to decline.

<strong>MACD</strong> graph is showing negative signals as the MACD line and the Signal line both are negative. The fast line is currently below the slow line.
<h2><b>Day-Ahead and Tomorrow</b></h2>
In short, the traders may hold their current positions as the bulls and the bears seem to be equally strong right now. They can keep the stop-loss at $0.921.

FIB numbers show that the price took support at the Fibonacci pivot at $1.02. The next pivot will be tested at $1.1.

XRP Technical Analysis: Trading in a Box for a While, Moving Between $1.165 and $0.945

XRP traders may hold their current positions as the bulls and the bears seem to be equally strong right now. They can keep the stoploss at $0.921.FIB numbers show that the price took support at the Fibonacci pivot at $1.02. The next pivot will be tested at $1.1. 

Ankita is reading geek by birth, she loves to read and write about finance and now cryptocurrencies and blockchain since 2017. A Bitcoin enthusiast ever since, she likes to understand businesses and how they affect everything else. Ankita contributes on our news bulletin with the latest happening in blockchain, crypto and ICO market specifically.

XRP Technical Analysis: Trading in a Box for a While, Moving Between $1.165 and $0.945

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