XRP lost its immunity to the market swings and started dropping just like other coins. Here are couple of possible scenarios for XRP:
Current state:
Still out. That means we have USD on hand.
XRP dropping like the rest of the alt coins.
No clear indication to buy yet.
Indicators/Charts analysis:
RSI: Going into oversold territory, but I don’t think it is done yet. It seems that it lends itself to further price drops.
Stoch RSI: This one is already in oversold territory, indicating a possible reversal. We have to keep an eye on this one.
Bollinger Bands: We are at the bottom of the band. No clear sight of moving up yet. We have to keep an eye for a possible reversal here too. However it is also possible that price continues to move on the band edges as it moves further down. This is where renko comes in to make it very clear as to what is the trend.
EMAs: 12, 26 and 50 are all showing a down trend. No signs of crossing either.
Awesome Indicator: Moving on the negative side ( bearish ). No signs of moving towards to 0 line either. Further price drops may be anticipated per this indicator.
Volume: Moved above 26 MA today. Lots of volatility toward the down side though. This has been the case for a while now.
Renko: Still showing a down trend. A few more red bricks were added today. Adjusted brick size to $0.0185 based on ATR 14.
Renko RSI/Stock RSI: Stoch RSI in oversold area. Although with Renko this lasts for a while suggesting further drops in price. RSI trending down to the oversold area, but mostly moving lateral. This indicates some indiecision.
Stop Loss:
$0.42633 – This could be our potential entry point.
Target:
0.49212 (+15.43%) – Selected based on Fib retractment.
Alarms:
None.
Conclusion:
Wait for a buy signal. Do not enter trade yet.
It appears that ripple is not exempt of crypto market drops.
These are the FUTURE dates and times for XRPUSD with the highest probability for experiencing a price swing high or low. Apply your own indicator(s) to determine the price swing direction.
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Felix Kuester works as an analyst and content manager for Captainaltcoin and specializes in chart analysis and blockchain technology. He is also actively involved in the crypto community - both online as a central contact in the Facebook and Telegram channel of Captainaltcoin and offline as an interviewer he always maintains an ongoing interaction with startups, developers and visionaries. The physicist has couple of years of professional experience as project manager and technological consultant. Felix has for many years been enthusiastic not only about the technological dimension of crypto currencies, but also about the socio-economic vision behind them.
