Current XRP movements and what to expect in the coming days:
The current move: after rising about +32.26% in 30 days, XRP appears to be taking a pause/consolidating. In the short term, the reading is mixed: it is +1.54% over 7 days and +0.47% on the daily candle, but current volume is well below the 7-day average and there was an estimated net outflow of capital from large orders on the day.
Daily indicators: RSI(6) at 55.71, a neutral zone; the 7/25/99-day moving averages remain positively aligned, with price above them; and SuperTrend remains bullish. On the other hand, MACD has had a bearish crossover for 4 candles, suggesting the upward momentum has lost strength for now.
For the next few days, watch two scenarios:
Constructive signal: a return to the recent highs, near US$ 1.48, accompanied by higher volume. This would show that the consolidation is attracting demand.
Weakening signal: a loss of the US$ 1.31–1.38 range, which contains recent lows. In that case, the correction could gain room and the market would begin testing lower supports.
The 30-day range is approximately from US0.9862 to US 1.70; therefore, despite the recent recovery, XRP still has elevated volatility and the next moves may be rapid. BTC behavior, risk appetite in the crypto market, and volume inflows/outflows in XRP tend to be decisive.
This is only a market analysis and does not constitute investment advice.
$XRP $BTC
#ZECHitsANewAllTimeHigh #BitcoinEthereumHitMultiMonthHighs
The current move: after rising about +32.26% in 30 days, XRP appears to be taking a pause/consolidating. In the short term, the reading is mixed: it is +1.54% over 7 days and +0.47% on the daily candle, but current volume is well below the 7-day average and there was an estimated net outflow of capital from large orders on the day.
Daily indicators: RSI(6) at 55.71, a neutral zone; the 7/25/99-day moving averages remain positively aligned, with price above them; and SuperTrend remains bullish. On the other hand, MACD has had a bearish crossover for 4 candles, suggesting the upward momentum has lost strength for now.
For the next few days, watch two scenarios:
Constructive signal: a return to the recent highs, near US$ 1.48, accompanied by higher volume. This would show that the consolidation is attracting demand.
Weakening signal: a loss of the US$ 1.31–1.38 range, which contains recent lows. In that case, the correction could gain room and the market would begin testing lower supports.
The 30-day range is approximately from US0.9862 to US 1.70; therefore, despite the recent recovery, XRP still has elevated volatility and the next moves may be rapid. BTC behavior, risk appetite in the crypto market, and volume inflows/outflows in XRP tend to be decisive.
This is only a market analysis and does not constitute investment advice.
$XRP $BTC
#ZECHitsANewAllTimeHigh #BitcoinEthereumHitMultiMonthHighs