Ripple (XRP) has declined below the 50 day exponential moving average and has once again shown extreme weakness in the face of oversold trading conditions on the daily time frame. The 1D chart for XRP/USD shows that Ripple (XRP)’s Stochastic RSI is near oversold territory on the daily time frame. The RSI has also found support atop a long term trend line that extends back to December, 2018. Normally, this would mean that Ripple (XRP) is in a good position to stage an effective comeback from current levels but the price action this time is very weak and it appears that Ripple (XRP) is in no position for a trend reversal. The probability of a golden cross formation has now declined further as the price has plunged below the 50 day EMA. If the price closes below this level, we might see it eventually decline below the symmetrical triangle.
The cryptocurrency that saw a major spike in interest around mid-2017 and most of 2018 is all of a sudden forgotten. The Ripple community on…
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