XRP, EOS, Cosmos Price analysis: 23 July


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The latest price movement in the Bitcoin market pushed the price of the cryptocurrency over $9.5k, with the altcoin market also mirroring its gains soon enough. However, compared to the world’s largest digital asset, the altcoin market has been noting some pressure building up, making many alts take the bearish journey going forward.


Source: XRP/USD on TradingView

The fourth-largest cryptocurrency in the market, XRP lost its third position to Tether [USDT] just recently, with its market cap remaining restrictive at $9.05 billion. Despite the tug of war between XRP’s resistance and support levels, XRP was trading at $o.2022, at press time. Further, if we look at the daily chart of XRP, it can be observed that it has been bouncing between the immediate resistance at $0.2297 and the support at $0.1718 since mid-April.

As the coin moved forward, however, the price trend changed to a bearish one. This was highlighted by the Parabolic SAR, wherein the dotted markers were found to be lining above the price bars, indicating a change in this price trend.

Interestingly, it was recently reported that ZRP has 400 active markets with XRP/USDT pair listed on Binance to have the most significant volume.


Source: EOS/USD on TradingView

EOS has been pushed lower and lower on CMC’s list over the past few months, with its market cap limited to $2.248 billion, at the time of writing. In light of the same, its returns in the market have also almost been wiped away.

EOS has been retuning just 1.46% in YTD to investors, after great losses and little recovery. The coin’s price has been moving sideways over the past couple of months, and at press time, was valued at $2.65 while support was maintained at $2.42 and resistance at $2.89.

As the coin looks forward to a low volatility period, indicated by the converging Bollinger Bands, there was bullish pressure in the market. The signal line, once moving from above the candlesticks, was sneaking under as the price registered higher highs over the past couple of days.

Cosmos [ATOM]

Source: ATOM/USD on TradingView

The small-cap asset, ATOM has been noting rising momentum since the beginning of July. Its chart indicated that the coin’s price had already gained by up to 53% in 21 days. However, it returned -7.73% in YTD returns to its investors. The press time trading price of ATOM was $4.04, while the resistance remained at $4.58 and support at $3.50. Despite being a part of an uptrend, ATOM may register a price dip soon.

According to Awesome Oscillator, the price trend has changed and the momentum for change is high. The reason behind ATOM growing so exponentially could be its most recent announcement about its next major network upgrade – Stargate.

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