XRP(4Hr) : XRP setting a sideways momentum
Market in the last 24hrs
As the difference between the upper and lower Bollinger band was very low due to this the price consolidated movement as it constantly moved between the 2 bands in the last 24 hours. Trading volume has been very high in the last 24 hours.
Today’s Trend analysis
As the price just touched the lower Bollinger band we can expect the price to see some upward momentum till it reaches the upper Bollinger band in the next 24 hours. After that, we can expect to see some consolidation if the price accepts the upper band as a support line.
Price volatility was low at approximately 0.7%, with the day's range between $0.616— $0.640.
Price at the time of publishing: $0.624
XRP’s market cap: $28.84 Billion
However, the Indicator summary is giving a 'SELL' signal on XRPUSD.
Out of 11 Oscillator indicators, 1 is giving a SELL signal, 8 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.
Trading volume has been very high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
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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!
As the difference between the upper and lower Bollinger band was very low due to this the price consolidated movement as it constantly moved between the 2 bands in the last 24 hours. Trading volume has been very high in the last 24 hours.
Today’s Trend analysis
As the price just touched the lower Bollinger band we can expect the price to see some upward momentum till it reaches the upper Bollinger band in the next 24 hours. After that, we can expect to see some consolidation if the price accepts the upper band as a support line.
Price volatility was low at approximately 0.7%, with the day's range between $0.616— $0.640.
Price at the time of publishing: $0.624
XRP’s market cap: $28.84 Billion
However, the Indicator summary is giving a 'SELL' signal on XRPUSD.
Out of 11 Oscillator indicators, 1 is giving a SELL signal, 8 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.
Trading volume has been very high in the last 24 hours. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
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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!
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