- In the XRP Price Analysis, a definite bearish trend can be detected.
- Significant technical indicators point to a near-term continuation of the fall.
- XRP prices have dropped by 3.97% over the last day, to $0.4419.
XRP is now valued at $0.4419 versus the US dollar after declining drastically in the previous few hours by more than 3.97%.
In the past 24 hours, the market capitalization has decreased by 3.26% to $22,170,604,876 while trading volume has climbed by 16.17% to $1,779,124,621.
On the 4-hour price chart, the Bollinger Bands are starting to close, which indicates a decline in market volatility. The upper band contacts at 0.4794 while the lower bands are located at 0.4389. Furthermore, the market trend is heading in the direction of the lower band, indicating a negative trend.
The downward slope and negative region of the MACD blue line show that the bears are currently in charge of the market. The histogram is edging downward and heading above the MACD, which touches -0.0081. This indicates that the market may continue to decline.
The Relative Strength Index (RSI) is reaching the oversold region and is pointing south, as shown on the 4-hour price chart. The selling pressure has outpaced the buying pressure, which is a sign of negative momentum, according to the most recent RSI score of 36.02.
The Stoch RSI is at 49.35, indicating that neither overbought nor oversold conditions exist in the market and that price action may move in either direction. But if the bears continue to dominate the market, the Stoch RSI score could change and move closer to the oversold area.
In addition, the Elder Force Index (EFI) and Bull Bear Power (BBP) both have values that are below zero. As of press time, the EFI is at -187.633k and the BBP is at -0.0170. These indicators suggest a bearish momentum in the market when portraying such readings.
Major technical indicators indicate that the market will continue to decline in the near future, hence overall expectations are for the market to remain bearish.
Disclaimer: The views and opinions, as well as all the information shared in this price prediction, are published in good faith. Readers must do their research and due diligence. Any action taken by the reader is strictly at their own risk. Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.
Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.
