XRP, Bitcoin SV, ZCash Price Movement Analysis for 1st August, 2021

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With most altcoins performing well, XRP rallied substantially since July 21. Bitcoin SV also gained as Bitcoin hiked in value, and ZCash veered into the overbought zone.

XRP

Since July 21, XRP has risen significantly, breaking through several resistance levels. Despite a minor gain of 1.5 percent overnight, prices remained at $0.76. As the Bollinger Bands diverged, volatility could be expected.

It has the potential to break through its immediate resistance level of $0.77 in the coming trading sessions. Other technical indicators indicated that the market was strong.

The Relative Strength Index remained above 60, despite a slight drop in buying pressure. As the dotted lines aligned over the candlesticks, the Parabolic SAR flashed an uptrend. In the event that prices fall, the support levels to watch are $0.71 and $0.68.

Bitcoin SV

XRP, Bitcoin SV and ZCash Price Analysis: August 1

BSV/USD, TradingView

At press time, Bitcoin SV was trading at $143.24 USD, up 2.2 percent from the previous day. It was about to breach its immediate price ceiling of $149.20.

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Despite a slight drop in buying pressure at press time, the four-hour chart of BSV corresponded to its bullish momentum, with the Relative Strength Index showing significant buying strength.

The Awesome Oscillator displayed bullish strength and the presence of buying strength, and the MACD reflected this.

Zcash (ZEC)

XRP, Bitcoin SV and ZCash Price Analysis: August 1

ZEC/USD, TradingView

Taking the same cues as the broader market, ZEC gained 7% in the last day. Its prices were spotted at $117.68 at the time of publication. The resistance levels on the upside are $125.47. However, if ZEC does not maintain its momentum, it may fall back to its support level of $108.00.

ZEC saw increased demand as the Relative Strength Index moved into the overbought zone, indicating a bullish outlook for the alt.

The Awesome Oscillator showed an increase in the number of green signal bars, confirming the bullish outlook.

MACD also confirmed increased buying strength, as evidenced by green bars on the histogram.

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