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Technical Analysis

XRP Technical Analysis. Death Cross Printed

Arthur Webb

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  • XRP is down by 2.3%
  • Death Cross Pattern
  • Next Support $0.21450

1 Hour XRP/USD Price Chart

XRP price failed to sustain its value above 23 cents. At the same time, the death cross pattern was printed on an hour chart suggesting future bearish pressure. XRP price reacted immediately dropping down to 22 cents as a result.

The current outlook remains bearish with MACD indicator providing an additional signal to establish a short position. The immediate target is $0.21450, the price would need to rebound off that level to get bull’s interest back. Alternatively, the price may gravitate down and below the $0.203 support and tap into the liquidity pool.

Chart source: Tradingview

READ  XRP Price Declines By 21% In Two Days As SEC Is Preparing A Lawsuit Against Ripple

Image source: Flickr

Disclaimer: Markets, instruments, and advice on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions.

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Arthur Webb: passionate about how technology can empower people to create a more just and sustainable world.