XRP Price Analysis: The Coin’s Momentum Slows Down
The crypto market has been extremely volatile these days, and this includes the price of XRP as well.
The crypto seemed to recover a few days ago, but then the bears took a bite out of the coin’s price.
Crypto indicators show XRP’s fate
AMBCrypto analyzed a few indicators that are important for the coin’s price these days.
On September 12, they noted the following:
“Bollinger Bands were squeezing, displaying that volatility reduced in the market.”
The online publication also mentioned the Awesome Oscillator and they noted that this “presented a bearish trend in the market as the long-term momentum was greater than the short-term momentum. The green lines appearing at the end indicated the possibility of a bullish market latterly.”
And, regarding the RSI indicator, this “stood at 48.12, exhibiting that selling pressure was high.”
The online publication mentioned above addressed the Parabolic SAR as well and said that this “conveyed a bearish trend as the dotted markers were present above the candles.”
The MACD line has reportedly crossed above the signal line, and it was able to reveal a bullish trend with a pretty small chance of reversal.
“The RSI indicator stood at 37.10, displaying that selling pressure was high,” the online publication concluded.
At the moment of writing this article, XRP is trading in the green on CMCand Ripple’s digital asset is priced at $0.255023.
XRP in the news – adoption is increasing
Today, we also reported something that probably made the XRP army of fans’ day.
XRP adoption is increasing at a speedy pace.
Ripple’s fundraising and development arm, Xpring has invested $1.5 million in the ATM company called Coinme in Seattle.
Coinme is currently operating 2,583 crypto ATMs across the globe and calls itself the largest Bitcoin kiosk network on earth.
The head of Xpring, Ethan Beard, said that he’s looking forward to seeing XRP debut on the company’s line of ATMs.
CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.