XRPUSD(4Hr) : XRP seeing a major downtrend
Market in the last 24hrs
The price saw a major downtrend in the last 24 hours with the price continuously rejecting the bottom Bollinger band as a support line. Trading volume has been high in the last 24 hours and can be seen increasing with a decrease in price suggesting a strong bearish momentum.
Today’s Trend analysis
The price is expected to continue to move in a bearish momentum until the price accepts the bottom Bollinger bands as a support line after which a consolidated movement is expected.
Price volatility was high at approximately 6.98%, with the day's range between $1.07 — $1.19.
Price at the time of publishing: $1.09
XRP’s market cap: $50.58 Billion
However, the Indicator summary is giving a 'SELL' signal on XRPUSD.
Out of 11 Oscillator indicators, 2 are giving a SELL signal, 7 are neutral and 2 are giving a BUY signal.
Out of 15 Moving average indicators, 11 are giving SELL signal, 1 is giving neutral and 3 are giving a BUY signal.
Trading volume has been high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
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Any feedback and suggestions would help in further improving the analysis!
The price saw a major downtrend in the last 24 hours with the price continuously rejecting the bottom Bollinger band as a support line. Trading volume has been high in the last 24 hours and can be seen increasing with a decrease in price suggesting a strong bearish momentum.
Today’s Trend analysis
The price is expected to continue to move in a bearish momentum until the price accepts the bottom Bollinger bands as a support line after which a consolidated movement is expected.
Price volatility was high at approximately 6.98%, with the day's range between $1.07 — $1.19.
Price at the time of publishing: $1.09
XRP’s market cap: $50.58 Billion
However, the Indicator summary is giving a 'SELL' signal on XRPUSD.
Out of 11 Oscillator indicators, 2 are giving a SELL signal, 7 are neutral and 2 are giving a BUY signal.
Out of 15 Moving average indicators, 11 are giving SELL signal, 1 is giving neutral and 3 are giving a BUY signal.
Trading volume has been high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.
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Any feedback and suggestions would help in further improving the analysis!
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