XRP Price Analysis - SEC Lawsuit Creates Bearish Pressure
Relative Strength Index: The RSI is currently at a healthy 41 points. This means the market is neither overbought or oversold, meaning most likely XRP will continue trading sideways for the next day.
Bollinger Bands: The price is within the bands' range, however it's below the MA which means that there is slight room for upwards correction.
Volume: There is a good amount of volume, even for the weekend which is surprising. This means that the market has enough power to make some moves in either direction.
XRP Price Prediction
Both the RSI and Bollinger Bands are signalling a sideways market. However, the volume tells us that movement in either direction is not unlikely. Combine the above signals with the bearish news about the XRP lawsuit and the most likely scenario is more bearish momentum in the coming days. XRP has massive support at the $0.26 level, so my prediction is that XRP will touch that point sometime next week, and depending on any more news regarding the SEC lawsuit XRP will either rebound upwards or continue trading at that support level. I don't see XRP dipping below $0.26 unless the SEC decides it's a Security.
Read Full Analysis : themerkle.com/ripples-xrp-price-analysis-and-prediction-for-september-22nd-sec-lawsuit-creates-bearish-pressure
Bollinger Bands: The price is within the bands' range, however it's below the MA which means that there is slight room for upwards correction.
Volume: There is a good amount of volume, even for the weekend which is surprising. This means that the market has enough power to make some moves in either direction.
XRP Price Prediction
Both the RSI and Bollinger Bands are signalling a sideways market. However, the volume tells us that movement in either direction is not unlikely. Combine the above signals with the bearish news about the XRP lawsuit and the most likely scenario is more bearish momentum in the coming days. XRP has massive support at the $0.26 level, so my prediction is that XRP will touch that point sometime next week, and depending on any more news regarding the SEC lawsuit XRP will either rebound upwards or continue trading at that support level. I don't see XRP dipping below $0.26 unless the SEC decides it's a Security.
Read Full Analysis : themerkle.com/ripples-xrp-price-analysis-and-prediction-for-september-22nd-sec-lawsuit-creates-bearish-pressure
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