XRPUSD(4Hr) : XRP loses $10 Billion and looking to loose more
Market in the last 24hrs
XRP saw a continuation of the bearish trend and went below the first support line exiting below the triangle suggesting a continuation of the bearish trend. Trading volume has been high in the last 24 hours.
Today’s Trend analysis
Price is expected to go down till the next support line at $0.5. If the price accepts the support line then we might see some consolidation before seeing any signs of recovery. If the price rejects the $0.5 support line then there may be no going back until the market fully recovers.
Price volatility remained low at approximately 18.9%, with the day's range between $0.58— $0.69.
Price at the time of publishing: $0.59
XRP’s market cap: $27 Billion
However, the Indicator summary is giving a 'SELL' signal on XRPUSD.
Out of 11 Oscillator indicators, 2 are giving a SELL signal, 9 are neutral and 0 are giving a BUY signal.
Out of 15 Moving average indicators, 13 are giving SELL signal, 1 is giving neutral and 1 is giving a BUY signal.
Traded volume has remained high in the past 24 hours. If the trading volume bumps then we may see a bullish momentum as well.
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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!
XRP saw a continuation of the bearish trend and went below the first support line exiting below the triangle suggesting a continuation of the bearish trend. Trading volume has been high in the last 24 hours.
Today’s Trend analysis
Price is expected to go down till the next support line at $0.5. If the price accepts the support line then we might see some consolidation before seeing any signs of recovery. If the price rejects the $0.5 support line then there may be no going back until the market fully recovers.
Price volatility remained low at approximately 18.9%, with the day's range between $0.58— $0.69.
Price at the time of publishing: $0.59
XRP’s market cap: $27 Billion
However, the Indicator summary is giving a 'SELL' signal on XRPUSD.
Out of 11 Oscillator indicators, 2 are giving a SELL signal, 9 are neutral and 0 are giving a BUY signal.
Out of 15 Moving average indicators, 13 are giving SELL signal, 1 is giving neutral and 1 is giving a BUY signal.
Traded volume has remained high in the past 24 hours. If the trading volume bumps then we may see a bullish momentum as well.
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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.
----------------------------------------------------------------------------------------
Any feedback and suggestions would help in further improving the analysis!
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