$XRPUSD Short-Term Bears
Weekly
The higher timeframe shows a continuation of the downtrend, stochastic RSI showing momentum also in favor of bears. $0.2700 was also tested last week and held. A look at our smaller timeframe will show us our intraday analysis.
Daily
Shifting over to the pattern timeframe we see the price has formed a lower high at $0.2840 and XRP is now looking to continue towards the downside. Short-term support found at $0.2740, stochastic RSI showing momentum in complete favor of bears with no signs fo slowing down as well. Reminder crypto is a very volatile market and you should only use the higher timeframe for confirmations.
4Hour
Finally looking at the trigger timeframe we see the price has found support for the (3rd) time at $0.2740, however no confirmation just yet. Stochastic RSI showing momentum is still in favor of the bears with no signs of reversal. Expecting the price to continue falling towards $0.2560 before making its next move towards the upside A close above $0.2760 could be our first indicator towards the upside.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.