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Ripple in a Bearish trend still !! for CURRENCYCOM:XRPUSD by GabiDahdouh

Hello everyone , as we all know the market action discounts everything :)

We are gonna look at a 1W chart and gonna use technical analysis tool to understand the Ripple XRP movement .

the market seems to be in a descending triangle 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 bearish signal in the market (do know that when i used 100MA and 200MA market seems bullish which could indicate the market going up in the long term)

2_MACD creating a Sell signal when the market price crossed over the MACD showing us a that the bears are still in control

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 Stochastic Oscillator works then watch this)

Ripple’s XRP fell through the first major support level 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 resistance level at $0.6783, A fall through the $0.6253 pivot would bring the first major support level 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.

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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.

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