XRP(4Hr) : XRP looking to continue a bearish momentum
Market in the last 24hrs
XRPUSD can be seen oscillating between the bottom and bottom Bollinger band in the last 24 hours. Trading volume has been low in the last 24 hours. The volume can be seen decreasing with an increase in price suggesting a bearish momentum soon.
Today’s Trend analysis
XRP is expected to continue to oscillate inside the triangle until it exits on either side. The likely scenario is that the price will exit below the triangle and continue its bearish momentum. There is a chance that the price exits above the triangle and starts moving in a consolidated manner with a slight indication of bullish momentum.
Price volatility was extremely low at approximately 1.3%, with the day's range between $0.589 — $0.617.
Price at the time of publishing: $0.606
XRP’s market cap: $28.49 Billion
However, the Indicator summary is giving a 'STRONG SELL' signal on XRPUSD.
Out of 11 Oscillator indicators, 3 are giving a SELL signal, 8 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.
Trading volume has been low in the last 24 hours. The volume can be seen decreasing with an increase in price suggesting a bearish momentum soon. 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 can be seen oscillating between the bottom and bottom Bollinger band in the last 24 hours. Trading volume has been low in the last 24 hours. The volume can be seen decreasing with an increase in price suggesting a bearish momentum soon.
Today’s Trend analysis
XRP is expected to continue to oscillate inside the triangle until it exits on either side. The likely scenario is that the price will exit below the triangle and continue its bearish momentum. There is a chance that the price exits above the triangle and starts moving in a consolidated manner with a slight indication of bullish momentum.
Price volatility was extremely low at approximately 1.3%, with the day's range between $0.589 — $0.617.
Price at the time of publishing: $0.606
XRP’s market cap: $28.49 Billion
However, the Indicator summary is giving a 'STRONG SELL' signal on XRPUSD.
Out of 11 Oscillator indicators, 3 are giving a SELL signal, 8 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.
Trading volume has been low in the last 24 hours. The volume can be seen decreasing with an increase in price suggesting a bearish momentum soon. 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.
----------------------------------------------------------------------------------------
Any feedback and suggestions would help in further improving the analysis!
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