XRP
Short

XRPUSD to see downtrend(1D) | Price riding the lower band

Market in last 1 week
-XRPUSD saw a dowtrend after breaking the midline support
-Price volatility was very high. The market moved ~12.96%, between $0.292 and $0.262

Today’s Trend analysis
-XRPUSD expected to see a downtrend as the price is rding the lower band with lower lows observed
-Price at the time of publishing: $0.2644
-XRP’s market cap: $11.89 Billion
-Oscillator indicators are mostly neutral. RSI at 42 in the neutral region.
-Moving average indicators are biased towards a downtrend. Ichimoku Cloud is neutral
-Volume indicators observed a similar value in the recent candles with the 20-candle moving average decreasing

Price expected to see a downtrend as the price is rding the lower band with lower lows observed. Most of the Oscillator indicators are neutral. MACD line below the signal line, histogram size increasing in the negative directionsuggesting a bearish bias. RSI at 42, below the midline in the neutral region with a down move. CCI at -188, in the overbought region indicating an uptrend. Another interesting point to notice here is that the volume had a similar value in the recent candles suggesting a bullish momentum.
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The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and remaining 11 are oscillators. These indicator values are calculated using 1 D candles.

DM to get details of the above analysis and list of indicator & their values used to arrive at the above conclusion.

Note: Above analysis would hold true if we do not encounter sudden jump in trade volume .

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- Mudrex
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