The launch of xRapid did not provide investors with the price hike in XRP that they wanted so desperately. However, the market sentiment seems to have set XRP up for further movement.
There is a strong uptrend forming from the $0.442 – $0.52 – $0.535 limits. This is set to form a breakout with the $0.611 – $0.545 downward trendline, which is a continuation of $0.57 – $0.611.
The EMA is at $0.535, providing a support for the next movement of the coin.
The RSI recently recovered from an oversold position, indicating a bullish momentum forming.
The Klinger Volume Oscillator is demonstrating a bearish crossover downwards.
The MACD is set to move upwards, as seen by the histogram moving towards zero. This represents a bullish cross yet to happen.
The Awesome Oscillator is bullish, as seen by the green bars on the indicator.
The 20-period Weighted Moving Average is at $0.537, providing a resistance for the price moving upwards.
A couple of trend lines are set to form a breakout in the short term. These are the $0.274 – $0.520 uptrends and $0.59 – $0.61 – $0.54 downtrend.
There is a $0.673 – $0.581 downtrend is set to meet with the $0.507 – $0.57 uptrend.
The price seems to have found its bottom at $0.263, with a sharp uptrend from $0.26 – $0.52.
The Parabolic SAR has turned bearish, with the downward movement being predicted from the SAR appearing above the candlesticks.
The Stochastic RSI indicator recently plunged into the oversold mark, indicating a bullish sign.
The long-term outlook for XRP is bullish, as a reversal in the trend will ensure that the price hits higher highs. Other market variables, such as the token being used in the new technology, and investor sentiment, will decide the short-term movement of the coin.
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