Coingape - 6/27/2020 8:34:09 PM - GMT (+0 )
XRP Price has recently shown a downtrend where it is noted the lowest low at the 0.1785 level but this can not be the lowest low already because XRPUSD can show more decline. XRPUSD is trading in a possible descending wedge formation which is certainly a bullshit the reversal that can show to the upside with good potential.
For now, XRPUSD is still trading below the 55 and 20-EMA which is more bearish but this can definite change when XRP comes above the EMAs and also confirm the wedge .
The RSI bounced from the oversold condition upwards now this shows that the RSI has room to move higher and visit the overbought condition areas. The MACD has formed a bullish crossover which is a bullish sign, after XRPUSD has shown more potential in the next time it has to look up if the wedge confirms.
- TREND: Downward/sideway/ wedge
- EXPECTATION: Wedge confirmation
- TREND AFTER EXPECTATION: Upwards
- PREV: 0.18269
- OPEN: 0.18278
- VOLUME: 999.466K
- DAY’S RANGE: 0.18130 — 0.18356
To get the daily price analysis, Follow us on TradingView
Disclaimer The views, opinions, positions or strategies expressed by the authors and those providing comments are theirs alone, and do not necessarily reflect the views, opinions, positions or strategies of CoinGape. Do your market research before investing in cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.
Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO’s in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114 and reach out to him at sunil (at) coingape.com