XRPUSD - 1D Chart Analysis
After it has failed 3 times in the last 6 days to jump above the 20 days Moving average, the price seems to be close to cross the Pivot Level as well, looking for a confirmation of a bearish trend.
This confirmation may come at the end of the day if the closing price will be lower than 0.4645$ because a red candlestick will be created and according to the Bollinger Bands, this is exactly what we need.
The RSI is about to leave behing the "neutral" area, the Stochastic is clearly showing that the price is "overbought" while the MACD line seems to continue along the signal line.
As a result, with no strong fundamentals which can lead to bigger trading volumes in the market, it seems it's just a matter of time until the price will test 0.4046$.
This confirmation may come at the end of the day if the closing price will be lower than 0.4645$ because a red candlestick will be created and according to the Bollinger Bands, this is exactly what we need.
The RSI is about to leave behing the "neutral" area, the Stochastic is clearly showing that the price is "overbought" while the MACD line seems to continue along the signal line.
As a result, with no strong fundamentals which can lead to bigger trading volumes in the market, it seems it's just a matter of time until the price will test 0.4046$.
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