XRPUSD Price analysis: XRP Prices Continue To Be In Downtrend With More Possible Declines

By Vince Prince
Published June 28, 2020 Updated June 29, 2020
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XRP Price Analysis
XRP Price Analysis

XRPUSD Price analysis: XRP Prices Continue To Be In Downtrend With More Possible Declines

By Vince Prince
Published June 28, 2020 Updated June 29, 2020

XRP Price has recently shown a downtrend where it is noted the lowest low at the 0.1785 level but this can not be the lowest low already because XRPUSD can show more decline. XRPUSD is trading in a possible descending wedge formation which is certainly a bullshit the reversal that can show to the upside with good potential.

XRP Price Analysis: 4 Hr Chart

XRP Price Analysis
XRP Price Analysis

For now, XRPUSD is still trading below the 55 and 20-EMA which is more bearish but this can definite change when XRP comes above the EMAs and also confirm the wedge .

The RSI bounced from the oversold condition upwards now this shows that the RSI has room to move higher and visit the overbought condition areas. The MACD has formed a bullish crossover which is a bullish sign, after XRPUSD has shown more potential in the next time it has to look up if the wedge confirms.

  • TREND: Downward/sideway/ wedge
  • EXPECTATION: Wedge confirmation
  • TREND AFTER EXPECTATION: Upwards
  • PREV: 0.18269
  • OPEN: 0.18278
  • VOLUME: 999.466K
  • DAY’S RANGE: 0.18130 — 0.18356

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Disclaimer
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
About Author
Vince Prince
16 Articles
Vince is an experienced trader, investor and financial analyst within the markets in which he concentrates on the cryptocurrencies and decent opportunities within them to trade in a professional oriented manner. You can follow him at trading view market insight at: https://www.tradingview.com/u/VincePrince/ Or you can join his telegram channel: https://t.me/vinceprince_channel

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