XRP, Terra and NEM Price Analysis: 08 December

By victoria
December 9, 2021 Updated December 9, 2021
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The price of XRP has been consolidating above its critical support of $0.74 for a considerable while now. At press time XRP was priced at $0.87 and it registered a gain of 4.7% over the past day. Immediate resistance for the coin rested at $0.96 and then at $1.05 which the coin hasn’t gone past in the past couple of weeks. Technicals indicate that the bulls have taken charge of the prices.

XRP/USD Chart In The 4-hour Time Frame

The Relative Strength Index has finally moved above the half-line into a bullish territory which meant that buyers have exceeded sellers in the market. Ever since December 4, the indicator has remained in the bearish zone.

The price of XRP was above the 20-SMA line which indicated that the price momentum was in favour of the buyers, also suggesting that the downtrend has weakened.

MACD underwent a bullish crossover and depicted amplified green histograms that implied positive price action over the immediate trading sessions.

On the flip side, XRP’s support region stood at $0.86 and then at $0.74.

LUNA/USD Chart In The 4-hour Time Frame

Terra over the last week has been making gains, it was up by 19.7%. At the time of writing, the token was trading for $70.11 with its immediate price ceiling at $76.49. The technical outlook for Terra also indicated that the bulls had taken over.

Bollinger Bands has constricted slightly, indicating that the volatility of LUNA might remain in control over the next trading sessions. Prices were spotted above the 20-SMA line which meant that LUNA was on a short-term uptrend.

In regards to uptrend, The Relative Strength Index was also positive as buyers exceeded sellers.

XEM/USD Chart In The 4-hour Time Frame

NEM reversed its one-week losses by registering a 4.5% gain over the last 24 hours. The immediate resistance for the coin was at $0.15 and then at $0.18 which NEM struggled to break above since the past few weeks. Other price ceilings for the coin was at $0.20 and $0.22.

Relative Strength Index was parked above the half-line into the bullish zone as buyers exceeded sellers in the market. Capital inflows have been on a multi-month high as seen on the Chaikin Money Flow.

MACD underwent a bullish crossover indicating positive price action. On the reverse side, in case the coin fails to move ahead with the resistance level of $0.15, the coin would end up trading near its support line of $0.12.

Victoria is a Nigerian journalist and entrepreneur with a background in Communications. She's interested in writing about Cryptocurrency, Blockchain and Humans. She owns a tad bit of BTC and ETH and her favorite thing to do is sit by the ocean listening to Beyoncé.
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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