XRPUSD(4Hr) : XRP not showing any signs of recovery
Market in the last 24hrs
In the last 24 hours, the XRPUSD saw a drastic bearish trend and it went below the trend line which was supposed to act as a strong support line. Trading volume has been high in the last 24 hours.
Today’s Trend analysis
The price went below the potential support line which could be an indication of a continuation of the current trend. If this continues the next support line is at $0.65. We have seen some bullish false breakout in the current week, so there is a slight chance that this also might be a false breakout and if there is a sudden jump in the trading volume then we might see some bullish trend.
Price volatility remained low at approximately 6.6%, with the day's range between $0.791 — $0.843.
Price at the time of publishing: $0.8
XRP’s market cap: $37 Billion
However, the Indicator summary is giving a 'SELL' signal on XRPUSD.
Out of 11 Oscillator indicators, 2 are giving a SELL signal, 7 are neutral and 2 are giving a BUY signal.
Out of 15 Moving average indicators, 14 are giving SELL signal, 1 is giving neutral and 0 are giving a BUY signal.
Traded volume has remained high in the past 24 hours. If the trading volume bumps then we can see a bullish momentum as well.
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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!
In the last 24 hours, the XRPUSD saw a drastic bearish trend and it went below the trend line which was supposed to act as a strong support line. Trading volume has been high in the last 24 hours.
Today’s Trend analysis
The price went below the potential support line which could be an indication of a continuation of the current trend. If this continues the next support line is at $0.65. We have seen some bullish false breakout in the current week, so there is a slight chance that this also might be a false breakout and if there is a sudden jump in the trading volume then we might see some bullish trend.
Price volatility remained low at approximately 6.6%, with the day's range between $0.791 — $0.843.
Price at the time of publishing: $0.8
XRP’s market cap: $37 Billion
However, the Indicator summary is giving a 'SELL' signal on XRPUSD.
Out of 11 Oscillator indicators, 2 are giving a SELL signal, 7 are neutral and 2 are giving a BUY signal.
Out of 15 Moving average indicators, 14 are giving SELL signal, 1 is giving neutral and 0 are giving a BUY signal.
Traded volume has remained high in the past 24 hours. If the trading volume bumps then we can see a bullish momentum as well.
----------------------------------------------------------------------------------------
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!
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