XRPUSD - 1D Chart Analysis
After we could see a positive evolution between the 18th and the 22nd of the last month, Ripple has followed the other coins and despite the good fundamentals we could see lately, it also started to move sideways like the rest.
The price is still between the upper standard deviation and the 20 days Moving Average which according to the Bollinger Bands it means that we are still in a bullish market, at least for the short term.
On the other hand, the Stochastic is indicating that the price has potential to go even lower while the MACD seems to be about to cross the Signal line which can lead us to the same idea.
Based on the ones above, the 2 possible scenarios seem to be :
1. If the price will drop below the pivot level, the next possible target in the following days might be 0.48203$ (Support Level) where we'll see if the short term uptrend will be confirmed or if the support level will be broken.
2. If the price will stay above the pivot level, the next possible target is 0.62642$ (Resistance Level)
The price is still between the upper standard deviation and the 20 days Moving Average which according to the Bollinger Bands it means that we are still in a bullish market, at least for the short term.
On the other hand, the Stochastic is indicating that the price has potential to go even lower while the MACD seems to be about to cross the Signal line which can lead us to the same idea.
Based on the ones above, the 2 possible scenarios seem to be :
1. If the price will drop below the pivot level, the next possible target in the following days might be 0.48203$ (Support Level) where we'll see if the short term uptrend will be confirmed or if the support level will be broken.
2. If the price will stay above the pivot level, the next possible target is 0.62642$ (Resistance Level)
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