The price can be seen moving from the middle to the lower Bollinger band suggesting that the price has rejected the middle band as a support line. Trading volume has been moderate in the last 24 hours.
Today’s Trend analysis
The price is expected to move in a consolidated manner with a slight indication of bullish momentum. The price is expected to oscillate between the middle and the lower Bollinger band .
Price volatility was extremely low at approximately 3.22%, with the day’s range between $1.07 — $1.14.
Price at the time of publishing: $1.10
XRP’s market cap: $51.58 Billion
However, the Indicator summary is giving a ‘NEUTRAL’ signal on XRPUSD.
Out of 11 Oscillator indicators, 2 are giving a SELL signal, 7 are neutral and 2 are giving a BUY signal.
Out of 15 Moving average indicators, 7 are giving SELL signal, 1 is giving neutral and 7 are giving a BUY signal.
Trading volume has been 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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