the market seems to be in a pattern , with a lot of the indicators showing weakness in the ripple market . i used different indicators to confirm whats going on :
1_ Ripple price is trending below the MA on both 10MA and 20MA showing us a signal in the market (do know that when i used 100MA and 200MA market seems which could indicate the market going up in the long term)
3_Stoch is in oversold zones and created a sell signal when %D crossed over %K (%D 10.25 and %K 7.81 ) .and no divergence was found to indicate a reversal ( if u need to learn how the Oscillator works then watch this)
Ripple’s XRP fell through the first major at $0.6034 before rising to a mid-afternoon intraday high $0.64521.
In the event of another breakout, Ripple’s XRP could test the second at $0.6783, A fall through the $0.6253 would bring the first major at $0.6054 into play.
I do need to say that cryptocurrency is under a lot of influence from big coin holders and public figures , the market could change if one of the big players made a big move
Fundamental point of view :
Ripple (XRP) may have suffered in recent weeks, but it’s still one of the top cryptocurrencies to buy for long-term returns. It’s down by 2% in the past day, to $0.614. It’s also down by 7.5% in the past week, by 8% in the past fortnight, and by 30% in the past 30 days.
This obviously isn’t very good going. That said, XRP has a real chance of surging massively towards the end of 2021 or early 2022. This is likely when its case with Securities and Exchange Commission will end. And for a growing number of lawyers operating in the cryptocurrency and fintech space, this case will end positively for Ripple.
Make sure to Follow and Like for more content
This is my personal opinion done with analysing of the market price and research online , not financial advice.
If you have any questions please ask
Thank you for reading.