Market in the last 24hrs XRPUSD saw a consolidated movement with a slight indication of bearish momentum. The price moved slightly above the Bottom Bollinger band. Trading volume has been very in the last 24 hours but still, the price is moving in a consolidated manner suggesting unsurety among investors.
Today’s Trend analysis Price is expected to continue to move in a consolidated movement till it reaches the middle Bollinger band after which if the price accepts it as a resistance line the consolidated movement will continue or else we may see some bullish momentum.
Price volatility was extremely moderate at approximately 4.93%, with the day's range between $0.518 — $0.568. Price at the time of publishing: $0.532 XRP’s market cap: $24.6 Billion
However, the Indicator summary is giving a 'SELL' signal on XRPUSD. Out of 11 Oscillator indicators, 1 is giving a SELL signal, 7 are neutral and 2 are giving a BUY signal.
Out of 15 Moving average indicators, 13 are giving SELL signal, 1 is giving neutral and 1 is 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. ----------------------------------------------------------------------------------------
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. ---------------------------------------------------------------------------------------- Any feedback and suggestions would help in further improving the analysis!
@Se7enSkies, this channel pattern looks pretty promising. a breakout (or a breakdown) would be intense. There are a number of things going on with XRP right now. On the price point, the FUD around this token is taking quite a toll. Apart from that, the ongoing feud with the SEC cannot be ignored. After following the recent proceedings of the court case, things might be taking a great turn for XRP. We will have to wait and see what drama unfolds from here.