XRPUSD(4HR) : Ripple moving above 1$
Market in the last 24hrs
The price moved below the middle Bollinger band and the price accepted the lower band as a support line as the price can be seen moving upward in the latest tick. Trading volume has been moderate in the last 24 hours and has been similar throughout the day suggesting a consolidated momentum.
Today’s Trend analysis
As the current price is moving above the middle Bollinger band it can be said that the price has rejected it as a resistance line thus the price is expected to move in a bullish momentum till it reaches the upper Bollinger band after which consolidated movement is likely.
Price volatility was extremely low at approximately 3.75%, with the day's range between $1.01 — $1.08.
Price at the time of publishing: $1.04
XRP’s market cap: $48.81 Billion
However, the Indicator summary is giving a 'BUY' 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, 2 are giving SELL signal, 1 is giving neutral and 12 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!
The price moved below the middle Bollinger band and the price accepted the lower band as a support line as the price can be seen moving upward in the latest tick. Trading volume has been moderate in the last 24 hours and has been similar throughout the day suggesting a consolidated momentum.
Today’s Trend analysis
As the current price is moving above the middle Bollinger band it can be said that the price has rejected it as a resistance line thus the price is expected to move in a bullish momentum till it reaches the upper Bollinger band after which consolidated movement is likely.
Price volatility was extremely low at approximately 3.75%, with the day's range between $1.01 — $1.08.
Price at the time of publishing: $1.04
XRP’s market cap: $48.81 Billion
However, the Indicator summary is giving a 'BUY' 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, 2 are giving SELL signal, 1 is giving neutral and 12 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.
----------------------------------------------------------------------------------------
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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