XRPUSD is moving in a huge channel where it already moved to the lower line several time which is certainly more bearish than bullish. This channel can also break to the upside but as there is important resistance this is at the the moment not more possible than the bearish scenario.
XRPUSD Price Analysis: 4 Hr Chart
The last times XRPUSD showed heavy declines to the downside which will go on when the coin confirms below the lowest line of the triangle. The RSI is sending more bearish signs which can lead to a test of the oversold region which is matching to the more possible bearish outcome scenario.
The MACD has the potential to confirm a bearish
crossover to the downside when the faster moving blue MACD line crosses the orange signal line to the downside. There can be a trade when XRPUSD falls below the line with a trade of the lower low.
TREND AFTER EXPECTATION: More possible downside
INDICATORS: MACD: Bearish crossover incoming possible, RSI: Looking for oversold region possible
Luke has had a long interest in financial technology, especially cryptocurrency and blockchain. With a Bachelors degree in Journalism and Media, Luke is dedicating his writing skills for the digital currency sphere.He can be contacted at email@example.com