TRADINGVIEW 🤴🏿 .. WHY Ripple price fails 🤷🏼 👩🏼🦼
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Ripple price fails to hold above $0.600>>>>>🧑⚖️ 👨⚖️
Across the daily frames, we can observe that Ripple price had been trading inside a descending channel since the start of December until December 15. During this period XRP declined from highs of $0.6813 to the lows of $0.4370 before the buyers maintained a support level.
The bulls maintained key support at the level, and the price saw a sharp reversal and the price recovered to $0.650 by December 16. However, the bullish momentum exhausted at the level and the price declined below the $0.500 level.
Across the last 24-hours, XRP price has observed strong bearish sentiment as the price continues to decline towards the $0.500. The price action has defended a support level at $0.500, but the p[rice action is yet to turn bullish across the daily-frames.
Across the technical indicators, the MACD shows declining bearish momentum, but the indicator has not turned bullish since turning red on December 4. However, while the indicator shows decreasing bearish momentum, the convergence between the two EMAs has decreased as the 12-day EMA’s motion has stagnated in recent candles.
Meanwhile, the RSI remains near the 50.00 mark suggesting room for high volatility to occur in the next few days. Similarly, the Bollinger Bands are currently in a squeeze suggesting that the next few days may see high price volatility.
TradingView has 100+ indicators and 50+ intelligent drawing tools that cover most popular trading concepts. Proprietary Pine Script language lets you change existing indicators or create anything from scratch. There are 1000's of scripts published by other traders in the public script library.
Ripple price fails to hold above $0.600>>>>>🧑⚖️ 👨⚖️
Across the daily frames, we can observe that Ripple price had been trading inside a descending channel since the start of December until December 15. During this period XRP declined from highs of $0.6813 to the lows of $0.4370 before the buyers maintained a support level.
The bulls maintained key support at the level, and the price saw a sharp reversal and the price recovered to $0.650 by December 16. However, the bullish momentum exhausted at the level and the price declined below the $0.500 level.
Across the last 24-hours, XRP price has observed strong bearish sentiment as the price continues to decline towards the $0.500. The price action has defended a support level at $0.500, but the p[rice action is yet to turn bullish across the daily-frames.
Across the technical indicators, the MACD shows declining bearish momentum, but the indicator has not turned bullish since turning red on December 4. However, while the indicator shows decreasing bearish momentum, the convergence between the two EMAs has decreased as the 12-day EMA’s motion has stagnated in recent candles.
Meanwhile, the RSI remains near the 50.00 mark suggesting room for high volatility to occur in the next few days. Similarly, the Bollinger Bands are currently in a squeeze suggesting that the next few days may see high price volatility.
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