XRPUSD - 1W Chart Analysis
In the last 18 weeks, the price of Ripple has lost almost all of it's growth registered on the 17th of September, (day in which it has doubled it's value) based on the trading volumes which have been inconsistent.
And even if the evolution of the trading volumes oscillated, the trend of these ones remained negative and we can say today that the price of Ripple is "searching for it's bottom".
At this stage, the RSI seems to remain constant at the level of 42. The Stochastic has an "oversold" position but there is no sign of a trend change, as long as it's Moving Averages are not intersected yet. On the other hand, the MACD is still below the Signal, meaning that the the price decrease may continue.
However, if the trading volumes will remain at the same low level, there is no sign for a big decrease in the market.
Considering all these circumstances, it is possible to see the price of Ripple going through a period in which it will continue it's sideways movements down to the level of 0.2500$ before it will start to increase again.
And even if the evolution of the trading volumes oscillated, the trend of these ones remained negative and we can say today that the price of Ripple is "searching for it's bottom".
At this stage, the RSI seems to remain constant at the level of 42. The Stochastic has an "oversold" position but there is no sign of a trend change, as long as it's Moving Averages are not intersected yet. On the other hand, the MACD is still below the Signal, meaning that the the price decrease may continue.
However, if the trading volumes will remain at the same low level, there is no sign for a big decrease in the market.
Considering all these circumstances, it is possible to see the price of Ripple going through a period in which it will continue it's sideways movements down to the level of 0.2500$ before it will start to increase again.
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