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Ripple Technical Analysis: XRP Is Currently Hovering Around $1.35

Daily Ripple XRP Price Analysis

2 Min Read
Last Updated April 22nd 2021
  • Between April 15 and April 19, Ripple price dropped from $1.83 to $1.30.
  • The MACD shows increasing bearish market momentum.

Between April 15 and April 19, the Ripple price got taken over by the bears as XRP dipped from $1.83 to $1.30, losing almost $0.50 in overall valuation, However, the price has since found support on the $1.30 psychological level, which has prevented further drops.

Ripple Price Has Had Six Bearish Sessions Out Of The Last Seven

As of now, the Ripple price is hovering around the $1.35 level and is trending between $1.30 and $1.40. Along with this XRP has flashed two separate sell signals – The MACD shows increasing bearish momentum and the parabolic SAR has flipped from positive to negative.

Image: XRP/USD daily

Ripple XRP Daily Chart

Looking at the 4-hour Ripple price chart, the Bollinger band has narrowed, which shows decreasing volatility. Plus, the Elliott wave oscillator shows that XRP is going through a period of negative sentiment.

Image: XRP/USD 4-hour

Ripple XRP 4-Hour Chart

Institutional XRP Inflow On The Rise

The assets under management (AUM) or XRP investment products have nearly doubled over the past week. According to CoinShares’ weekly digital asset fund flows report, around $33 million flowed into XRP products this week, pushing the sector’s AUM up to $83 million. The report described the week as the most bullish for institutional crypto products since early March, with $233 million injected in institutional funds.

Altcoins witnessed refurbished market action overall, with $65 million allocated to Ether products, while Binance Coin funds took in $3 million, Bitcoin Cash saw $4 million, Polkadot received $5 million, and Tezos attracted $7 million worth inflows. Approximately $6 million was invested into multi-asset products. 

Bitcoin products represent nearly 78% of institutional AUM with $50 billion, followed by Ether with $10.7 billion or 16.8% crypto product exposure. All other digital assets represent less than 1% of capital locked in the sector, with Binance Coin representing $571 million, Polkadot representing $45 million, and Bitcoin Cash representing $16 million.

Apart from large inflows, institutional trade volume rose, gaining 59% week-over-week to tag $4.8 billion. All-time price highs also pushed the AUM of crypto investment products into record highs above $64 billion. Grayscale represents 77% of institutional crypto AUM with nearly $50 billion, followed by CoinShares with $5.7 billion or almost 9% of the sector’s total, and 3iQ with $1.9 billion or roughly 3%.

Ripple Price Is Expected To Reach These Levels

Ripple price is going to keep hovering between the $1.30 and $1.40 psychological levels.

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