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XRPUSD(4Hr) : XRP consolidates after seeing a big drop in price for BINANCE:XRPUSD by Mudrex

Market in the last 24hrs
XRPUSD saw a consolidated movement in the last 24 hours after seeing a big drop a day prior. Trading volume has been high in the last 24 hours but can be seen decreasing recently.

Today’s Trend analysis

The price is expected to move in bullish momentum till the price touches the middle Bollinger band in the next 24 hours.

Price volatility was low at approximately 2.3%, with the day’s range between $1.02 — $1.15.

Price at the time of publishing: $1.1

XRP’s market cap: $51.77 Billion

However, the Indicator summary is giving a ‘SELL’ signal on XRPUSD.

Out of 11 Oscillator indicators, 1 is giving a SELL signal, 9 are neutral and 1 is giving a BUY signal.

Out of 15 Moving average indicators, 13 are giving SELL signal, 1 is giving neutral and 1 is giving a BUY signal.

Trading volume has been high in the last 24 hours. If we don’t see a sudden spike in volume then we can expect the above analysis to hold true.

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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.

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Any feedback and suggestions would help in further improving the analysis!

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