XRPUSD Technical Analysis 4 hour - XRP trying to hold? can it?

Hi there.

Current state:

Still out. That means we have USD on hand.
Still waiting to see how ripple responds.

Indicators/Charts analysis:

  • RSI: heading into oversold territory, but not completely yet. Mostly moving horizontally, although price is moving down.
  • Stoch RSI: is oversold. This may help boost xrp up a little At least in the short term.
  • Bollinger Bands: We are at the bottom of the band, and band is widening. Not good. Price may continue to drop.
  • EMAs: 12, 26 and 50 have all crossed in the down direction. These are lagging indicators so it means the momentum down has been happening for some time now.
  • Awesome Indicator: Bears are still in control (red bars). Indicator finally crossed to the bearish area.
  • Volume: Above 26 moving average. The great majority has been on the selling side. This again suggests people are offloading their xrp more than buying it.
  • Renko: Switched to a down trend. Added a few more red bricks (size 0.0197).
  • Renko RSI/Stock RSI: Neither indicator is oversold or overbought suggesting indecision (will the rest of the crypto market drag it down with it???).


Stop Loss:

Removed. Will wait to see what happens in the overall crypto market. All altcoins are being affected by the major drops and XRP is not exempt. I think price will likely drop to 0.38 soon.

Target:

None for now.

Alarms:

None for now.

Conclusion:

Do not enter trade yet.
will not likely to enter a trade until price goes above EMA 12 (around 0.45 or 0.46)


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***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.**
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