Ripple in a Bearish trend still !!
Hello everyone , as we all know the market action discounts everything :)
We are gonna look at a 1W chart and gonna use technical analysis tool to understand the Ripple XRP movement .
the market seems to be in a descending triangle pattern , with a lot of the indicators showing weakness in the ripple market . i used different indicators to confirm whats going on :
1_ Ripple price is trending below the MA on both 10MA and 20MA showing us a bearish signal in the market (do know that when i used 100MA and 200MA market seems bullish which could indicate the market going up in the long term)
2_MACD creating a Sell signal when the market price crossed over the MACD showing us a that the bears are still in control
3_Stoch is in oversold zones and created a sell signal when %D crossed over %K (%D 10.25 and %K 7.81 ) .and no divergence was found to indicate a reversal ( if u need to learn how the Stochastic Oscillator works then watch this)
Ripple’s XRP fell through the first major support level at $0.6034 before rising to a mid-afternoon intraday high $0.64521.
In the event of another breakout, Ripple’s XRP could test the second resistance level at $0.6783, A fall through the $0.6253 pivot would bring the first major support level at $0.6054 into play.
I do need to say that cryptocurrency is under a lot of influence from big coin holders and public figures , the market could change if one of the big players made a big move
Fundamental point of view :
Ripple (XRP) may have suffered in recent weeks, but it’s still one of the top cryptocurrencies to buy for long-term returns. It’s down by 2% in the past day, to $0.614. It’s also down by 7.5% in the past week, by 8% in the past fortnight, and by 30% in the past 30 days.
This obviously isn’t very good going. That said, XRP has a real chance of surging massively towards the end of 2021 or early 2022. This is likely when its case with Securities and Exchange Commission will end. And for a growing number of lawyers operating in the cryptocurrency and fintech space, this case will end positively for Ripple.
Make sure to Follow and Like for more content
This is my personal opinion done with analysing of the market price and research online , not financial advice.
If you have any questions please ask
Thank you for reading.
We are gonna look at a 1W chart and gonna use technical analysis tool to understand the Ripple XRP movement .
the market seems to be in a descending triangle pattern , with a lot of the indicators showing weakness in the ripple market . i used different indicators to confirm whats going on :
1_ Ripple price is trending below the MA on both 10MA and 20MA showing us a bearish signal in the market (do know that when i used 100MA and 200MA market seems bullish which could indicate the market going up in the long term)
2_MACD creating a Sell signal when the market price crossed over the MACD showing us a that the bears are still in control
3_Stoch is in oversold zones and created a sell signal when %D crossed over %K (%D 10.25 and %K 7.81 ) .and no divergence was found to indicate a reversal ( if u need to learn how the Stochastic Oscillator works then watch this)
Ripple’s XRP fell through the first major support level at $0.6034 before rising to a mid-afternoon intraday high $0.64521.
In the event of another breakout, Ripple’s XRP could test the second resistance level at $0.6783, A fall through the $0.6253 pivot would bring the first major support level at $0.6054 into play.
I do need to say that cryptocurrency is under a lot of influence from big coin holders and public figures , the market could change if one of the big players made a big move
Fundamental point of view :
Ripple (XRP) may have suffered in recent weeks, but it’s still one of the top cryptocurrencies to buy for long-term returns. It’s down by 2% in the past day, to $0.614. It’s also down by 7.5% in the past week, by 8% in the past fortnight, and by 30% in the past 30 days.
This obviously isn’t very good going. That said, XRP has a real chance of surging massively towards the end of 2021 or early 2022. This is likely when its case with Securities and Exchange Commission will end. And for a growing number of lawyers operating in the cryptocurrency and fintech space, this case will end positively for Ripple.
Make sure to Follow and Like for more content
This is my personal opinion done with analysing of the market price and research online , not financial advice.
If you have any questions please ask
Thank you for reading.
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