Technical Signs Suggest XRP’s Downtrend May Be Stalling – CFDTrading

The Daily View for Ripple

• Currently, XRP’s price is down $0 (-1.03%) from the day prior.
• The daily chart shows that Ripple has seen 2 straight down days.
• From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
• Of note is that the 50 day changed directions on XRP; it is now pointing down. The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Ripple’s hourly price chart is shown below.

The Daily View for Ripple

• At the time of this writing, XRP’s price is down $0 (-1.03%) from the day prior.
• This is a reversal of the price action on the previous day, in which price moved up.
• Regarding the trend, note that the strongest trend exists on the 50 day timeframe.
• The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
• Divergence alert: Trend in XRP’s price and its RSI are diverging. XRP’s price is declining slower than its RSI.

Below is a daily price chart of Ripple.

Featured Ripple Idea From TradingView

Below is a trading comment entitled 🔥 XRP WILL WE BREAK OUT? IMPORTANT DAILY ANALYSIS 🔥 you may find interesting:

Hey hope you guys are doing well! As always coming in with the stuff you need, when you need it. And before I start as always if you feel this idea is helpful or insightful a like and follow is always much appreciated as well! ⚡️In our last idea we noted that you’d have to watch the sideways channel to see what would come about next and we’ll as always it’s still stuck true to telling you what you need to know about direction. Once we left the sideways channel upward for that third time being our charm we saw XRP form a new higher high which it’s at right now as it is now at our descending channel’s top. ⚡️I told you guys XRP was gonna try to pull back into the descending channel a few days ago and then that happened, now we are in the descending channel and this is gonna be one of those important points to watch as it could decide a lot for us in the coming days. Right now XRP could continue to push and if it does it could potentially cross above the descending channel and that in itself would likely incite a breakout for the crypto. However as great as that is I just want to point out the chances of that don’t seem necessarily high considering just how whales and MM trade. They always take advantage of moments like these since these are the best moments to dump using the EMA flip technique resulting in what we call “leaving the mountain” ⚡️On top of past trading patterns we are approaching the descending channel’s top which funny enough right now is just right about gonna be where our big resistance point is for …

— Rocksorgate