Crypto-Follow logo Crypto-Follow logo
Cryptoknowmics 2022-04-07 07:14:15

XRP Technical Analysis: $0.78 Fallout Haunts A Dip To $0.70

XRP coin price faces a catastrophic rise in selling pressure, breaking the support trendline and the $0.78 level. Will the downfall continue below $0.70? Key technical points: XRP prices have decreased by 5.36% in the past 24 hours. In addition, the price fall delays the 50 and 100-day EMA crossover. Finally, the 24-hour trading volume of Ripple is $2.415 Billion, marking a 22% rise. Past Performance of XRP XRP coin price action created an ascending triangle pattern in the daily chart thanks to the bullish reversal starting from the $0.58 mark. However, the trend failed to sustain above $0.85, and the recent selling observed in the broader market brought the prices below the support trendline. Moreover, the fallout trend breaks below the $0.78 mark with a bearish engulfing candle of 6.99% Source-Tradingview XRP Technical Analysis XRP coin price Doji candle after the immense selling observed yesterday and retests the bearish breakout. Nevertheless, the increasing pressure projects a high likelihood of a downtrend continuation to the $0.70 mark with the post-retest reversal. Due to the sudden increase in selling pressure, the EMAs showcase a sideways trend and reduce the chances of a bullish crossover. Moreover, the price falling under all the crucial EMAs represent a remarkable increase in underlying bearishness. RSI Indicator: The RSI slope fails to sustain above the 14 day average in the nearly oversold zone and cracks below ...

#
Read the Disclaimer : All content provided herein our website, hyperlinked sites, associated applications, forums, blogs, social media accounts and other platforms (“Site”) is for your general information only, procured from third party sources. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness. No part of the content that we provide constitutes financial advice, legal advice or any other form of advice meant for your specific reliance for any purpose. Any use or reliance on our content is solely at your own risk and discretion. You should conduct your own research, review, analyse and verify our content before relying on them. Trading is a highly risky activity that can lead to major losses, please therefore consult your financial advisor before making any decision. No content on our Site is meant to be a solicitation or offer