/* custom css */
.td_uid_7_5da314edf1973_rand {
min-height: 0;
}
/* custom css */
.td_uid_8_5da314edf1b15_rand {
vertical-align: baseline;
}
/* inline css att */
.vc_custom_1555076468484{margin-right: 6px !important;margin-left: 6px !important;}
Ripple has a bearish short-term trading bias, with the cryptocurrency falling below its 200-period moving average
The XRP / USD pair has a neutral trading bias over the medium-term
The daily time frame shows that a breakout from the ascending triangle pattern is nearing
Ripple / USD Short-term price analysis
Ripple has a bearish short-term trading bias, with the XRP / USD pair now trading below its 200-period moving average on the four-hour time frame.
The four-hour time frame is showing that the XRP / USD pair is now testing the right-hand shoulder of the former bearish head and shoulders pattern.
Technical indicators across the four-hour time frame have turned bearish, following the XRP / USD pair’s recent technical rejection from the 0.3700 level.
XRP / USD H4 Chart (Source: TradingView)
Pattern Watch
Traders should note that an even larger bearish head and shoulders pattern could start to form if the XRP / USD pair falls towards neckline support.
Relative Strength Index
The RSI indicator is bearish on the four-hour time frame, with the RSI starting to approach oversold territory.
MACD Indicator
The MACD indicator has turned bearish on the four-hour time frame and is generating a bearish trading signal.
Ripple / USD Medium-term price analysis
Ripple has a neutral medium-term trading outlook, following the XRP / USD pair’s recent strong technical rejection from its 200-day moving average.
The daily time frame shows that buyers failed to move price above the descending triangle pattern, which has placed downside pressure on the XRP / USD pair.
Technical indicators on the daily time frame are highlighting that bearish pressure is building over the medium-term.
XRP / USD Daily Chart (Source: TradingView)
Pattern Watch
The descending triangle pattern is starting to narrow, which usually indicates that a technical breakout is nearing.
Relative Strength Index
The Relative Strength Index indicator on the mentioned time frame has also turned bearish.
MACD Indicator
The MACD indicator on the daily time is starting to turn bearish as downside pressure builds.
Conclusion
Ripple is starting to come under selling pressure in the short-term, following the XRP / USD pair’s failure to overcome major trendline resistance and its key 200-day moving average.
The tightening of the descending triangle pattern on the daily time frame suggests a large directional breakout is nearing.
To get a quick introduction to the Ripple project and its XRP token, check out our coin guide.
For a deeper dive, we also published one of our DARE reports on Ripple.
XRP Chart
Chart byCryptoCompare #ccpw-ticker-22580 .ccc-chart-header { background: #2196F3} #ccpw-ticker-22580 #ccc-chart-block .exportBtnTop, #ccpw-ticker-22580 a.tabperiods.tabperiods_active, #ccpw-ticker-22580 .coin_details { color: #2196F3; background: rgba(33,150,243,0.15); } #ccpw-ticker-22580 .coin_details { border: 1px solid rgba(33,150,243,0.16); } .ccpw-container_chart #ccpw-ticker-22580 .coin-container:after, .ccpw-container_four #ccpw-ticker-22580 .coin-container:after {border-color:#ccc !Important;}
Decentral Media, Inc., the publisher of Crypto Briefing, is not an investment advisor and does not offer or provide investment advice or other financial advice. Nothing on this website constitutes, or should be relied on as, investment advice or financial advice of any kind. Specifically, none of the information on this website constitutes, or should be relied on as, a suggestion, offer, or other solicitation to engage in, or refrain from engaging in, any purchase, sale, or any other any investment-related activity with respect to any transaction. You should never make an investment decision on an investment based solely on the information on our website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an investment.
Коментарі