XRP(1D) : XRP moving in consolidated momentum this week
Market in the last 1 week
XRPUSD saw a consolidated momentum with a slight indication of a bullish momentum this week as the price moves between the middle and the lower Billinger band. Trading volume has been moderate and can be seen decreasing with a slight increase in price indicating that there may be a bearish turnaround later.
Next Week's Trend analysis
As the price moves near the middle Bollinger band we reach a crucial point. If the price rejects the middle band as a resistance line then we can see a more prominent bullish trend. But if the price accepts the middle band as a resistance line then we might see a bearish momentum till it reaches the bottom Bollinger band in the next week.
The price change was high at approximately 21.7%, with the week's range between $0.598— $0.728.
Price at the time of publishing: $0.675
XRP’s market cap: $31.2 Billion
However, the Indicator summary is giving a 'SELL' signal on XRPUSD.
Out of 11 Oscillator indicators, 1 is giving a SELL signal, 9 are neutral and 1 is giving a BUY signal.
Out of 15 Moving average indicators, 12 are giving SELL signal, 1 is giving neutral and 2 are giving a BUY signal.
Traded volume has remained high in the past week. 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 1 Day candles.
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Any feedback and suggestions would help in further improving the analysis!
XRPUSD saw a consolidated momentum with a slight indication of a bullish momentum this week as the price moves between the middle and the lower Billinger band. Trading volume has been moderate and can be seen decreasing with a slight increase in price indicating that there may be a bearish turnaround later.
Next Week's Trend analysis
As the price moves near the middle Bollinger band we reach a crucial point. If the price rejects the middle band as a resistance line then we can see a more prominent bullish trend. But if the price accepts the middle band as a resistance line then we might see a bearish momentum till it reaches the bottom Bollinger band in the next week.
The price change was high at approximately 21.7%, with the week's range between $0.598— $0.728.
Price at the time of publishing: $0.675
XRP’s market cap: $31.2 Billion
However, the Indicator summary is giving a 'SELL' signal on XRPUSD.
Out of 11 Oscillator indicators, 1 is giving a SELL signal, 9 are neutral and 1 is giving a BUY signal.
Out of 15 Moving average indicators, 12 are giving SELL signal, 1 is giving neutral and 2 are giving a BUY signal.
Traded volume has remained high in the past week. 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 1 Day candles.
----------------------------------------------------------------------------------------
Any feedback and suggestions would help in further improving the analysis!
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