XRP(4Hr) : Ripple moving in a sideways momentum
Market in the last 24hrs
XRPUSD seems to have accepted the middle Bollinger band as a resistance line and can be seen moving in downward momentum. Trading volume has been high in the last 24 hours. The volume can be seen decreasing with a decrease in price suggesting a trend reversal in the near future.
Today’s Trend analysis
The price is expected to continue to move in a downward momentum till it reaches the bottom Bollinger band after which a sideways movement is likely.
Price volatility was low at approximately 1.29%, with the day's range between $0.708 — $0.739.
Price at the time of publishing: $0.714
XRP’s market cap: $33.14 Billion
However, the Indicator summary is giving a 'SELL' signal on XRPUSD.
Out of 11 Oscillator indicators, 3 are giving a SELL signal, 7 are neutral and 1 is giving a BUY signal.
Out of 15 Moving average indicators, 9 are giving SELL signal, 1 is giving neutral and 5 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!
XRPUSD seems to have accepted the middle Bollinger band as a resistance line and can be seen moving in downward momentum. Trading volume has been high in the last 24 hours. The volume can be seen decreasing with a decrease in price suggesting a trend reversal in the near future.
Today’s Trend analysis
The price is expected to continue to move in a downward momentum till it reaches the bottom Bollinger band after which a sideways movement is likely.
Price volatility was low at approximately 1.29%, with the day's range between $0.708 — $0.739.
Price at the time of publishing: $0.714
XRP’s market cap: $33.14 Billion
However, the Indicator summary is giving a 'SELL' signal on XRPUSD.
Out of 11 Oscillator indicators, 3 are giving a SELL signal, 7 are neutral and 1 is giving a BUY signal.
Out of 15 Moving average indicators, 9 are giving SELL signal, 1 is giving neutral and 5 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.
----------------------------------------------------------------------------------------
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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