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XRP, Chainlink, Tezos Price Analysis: 4 August

Within a day (1 August 2020), the collective industry seemed to be back on track as a majority of the top altcoins registered positive gains over the past day. XRP, Chainlink, and Tezos were some of the frontrunners with LINK leading the pack in the charts.

XRP 1-hour chart

XRP/USD on Trading View

After reaching $0.32 on 1st August, XRP witnessed a quick decline below the $0.30 threshold but maintained consolidation just above $0.25. At press time, XRP was valued at $0.30 after registering a 5.58 percent hike over the past day. With a market cap of $14 billion, XRP remained 3rd in the ranking, creating more distance from Tether at the 4th place.

Source: Coinstats

However, the short-term future for XRP seemed rather bleak. According to the market indicators, MACD suggested that in spite of the rise, the asset was nursing a bearish trend at the moment.

Relative Strength Index suggested a decline as well with the selling pressure slowly increasing in the market. Bollinger Bands suggested a decline in volatility as well.

Chainlink 1-hour chart

LINK/USD on Trading View

Leading the pack over the past day, Chainlink incurred a whopping 13.45 percent hike, taking its valuation from $7.62 to $9.39 at press time. The growth witnessed by Chainlink pushed the asset above BNB coin at 9th in the rankings, with a market cap of $3.3 billion in the charts. The asset also exhibited a decent trading volume of $1.08 billion.

Market Indicators were bullish at the moment, with Chaikin Money Flow suggesting higher capital inflows than outflows. Parabolic SAR suggested a definite bullish trend as well with the dotted lines appearing under the candlesticks.

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Bollinger Bands appeared to diverge in the charts, indicative of a volatile period in the future.

Tezos 1-hour chart

XTZ/USD on Trading View

Similar to XRP, Tezos exhibited a surge of 5.74% over the last 24-hours. Market indicators for the asset were contradictory as Awesome Oscillator suggested that bearish momentum had started to take charge. However, MACD continued to picture a bullish trend as the blue line hovered over the red line.

Tezos’ trading volume of $208 million did not do justice to its market cap of $2.31 billion at the moment. For XTZ, the present valuation remained at $3.17 at the moment, recovering completely from the collapse witnessed 2 days back.

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Linda Hopkins

Linda is one of the oldest contributors to Sunriseread. She has a unique perspective with regards to business and technology. She aims to empower the readers with the delivery of well-written news pieces, and most importantly, she always tries to bring the news quicker to the readers.

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