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On the strength of the wider crypto-gain, market’s the market capitalizations of XRP, IOTA, and AAVE have grown in the last 24 hours. Aave has been among the market’s top gainers, along with Dogecoin and MATIC.
IOTA predicted a drop in capital outflows, whereas XRP predicted a retracement upward with significant purchasing pressure.
On July 19, XRP broke through the $0.570 support level, after which it traded sideways for the majority of yesterday. XRP, on the other hand, surged overnight as the broader market rebounded, and at press time, the price had climbed to $0.552. If the price of XRP rises even further, it will test the $0.057 barrier level.
As suggested by the readings of the Squeeze Momentum Indicator, which flashed a squeeze release at press time, a period of significant volatility could be coming soon. With the price rising overnight, buying pressure returned to the market, as demonstrated by the increase in the Relative Strength Index.
On July 21, the MACD signalling a bullish crossover, which was followed by increasing green histograms.
On the 4-hour trading chart, IOTA reached an all-time high of 8.3 percent in the last 24 hours, and the commodity could soon break over the $0.634 barrier level. The altcoin was trading in the green at press time, with a market value increase of 8.87 percent. Furthermore, if the price continues to rise dramatically during the next few trading sessions, the altcoin’s comeback might negate the 16.5 percent weekly drop in worth.
The Bollinger Bands were diverging at press time as a result of the price increase, indicating an increase in price fluctuations. Capital inflows also increased, with the Chaikin Money Flow supporting this trend.
At press time, the MACD indicator was flashing the onset of a bearish signal, with only one green histogram visible, as well as a bullish crossing that happened on July 21.
Aave’s price movement received some relief as well, as the cryptocurrency surged to $246.76, a 13.5 percent increase in just 24 hours. After the cryptocurrency market recovered overnight, Aave was among the top gainers. With the general cryptocurrency market’s slump halting, Aave may try to test resistance levels in the future. The coin’s immediate critical resistance barrier was $249.50.
The Bollinger Bands show that market volatility is increasing. Because the bearish signal on the Average Directional Index has weakened, the bulls may be able to push the price higher in the short run. However, it’s difficult to determine whether the alt will continue to rise in the coming trading sessions.
At press time, the Awesome Oscillator was flashing green signal bars, indicating a bullish market.