XRPBTC analysis
XRP is just coming out of an inverted head & shoulders and will likely follow the same pullback that BTC may see.
The shooting start at the end the inverted H&S was/is a good indicator that a downward trend is likely.
XRP will likely test weak support around 83k and depending on how BTC this week could very well break that support and test strong support around 81k.
RSI is approaching oversold levels and MACD is indicating a potential cross downwards. Not enough volume to sustain an upward trend.
This could be a good potential shorting opportunity.
The shooting start at the end the inverted H&S was/is a good indicator that a downward trend is likely.
XRP will likely test weak support around 83k and depending on how BTC this week could very well break that support and test strong support around 81k.
RSI is approaching oversold levels and MACD is indicating a potential cross downwards. Not enough volume to sustain an upward trend.
This could be a good potential shorting opportunity.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.