XRPUSD to see an uptrend(1D) | Shift from seller to buyer

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Market in last 1 week

  • XRPUSD saw a downtrend after getting resistance from the upper band
  • Price volatility was very high. The market moved ~17.76%, between $0.258 and $0.219

Today’s Trend analysis

  • XRPUSD expected to see an uptrend as the price is trading between midline and lower band, recently got support from the lower band with Bollinger band squeeze
  • Price at the time of publishing: $0.2311
  • XRP’s market cap: $10.5 Billion
  • Oscillator indicators are mostly neutral. RSI at 40 in the neutral region.
  • Moving average indicators are indicating a downtrend. Ichimoku Cloud is neutral and Hull MA indicates buying opportunities
  • Volume indicators observed ups and downs as the price changed, the volume between the 84.8M and 36.7M being below the 20-candle moving average which saw a decline

Price expected to see an uptrend as the price is trading between midline and the lower band recently got support from the lower band with Bollinger band squeeze. Most of the Oscillator indicators are neutral. MACD line moving below the signal line, the histogram in the negative region suggesting a bearish bias. RSI at 40 , below the midline in the neutral region. CCI at -106, in the oversold region indicating an uptrend. Another interesting point to notice here is that the volume changed from price decrease volume increase to price decrease volume decrease indicating a shift from sellers to buyers.
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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