Even after a temporary rebound, the dynamics are still very negative with the exponential mobile averages (MME) in the short term being positioned below the long -term averages. After having experienced a long period of extreme occurrence, the XRP course could enter a consolidation phase before its next significant course movement. The XRP RSI finally comes out of the occurrence of the RELATIVE force indicator (RSI) of the XRP is currently at 36.37, showing a notable recovery from a hollow of 27.49 reached only a few hours ago. This trip up indicates a change in dynamics, because the purchase interest began to increase after a period conducive to sale. Although still in the low fork, this recovery suggests that traders could soon come back. This could mean that they see the recent decrease as an opportunity. RSI of XRP. Source: tradingView. The RSI is a widely used dynamic indicator which measures the speed and change of course movements on a scale of 0 to 100. Data below 30 generally indicate that an asset is occurred and could be undervalued. Conversely, data above 70 suggest a state of over -rascal or overheating. The rebound of the XRP from 27.49 to 36.37 indicates that it may have left the conditions of occurrence and that the downstream period could end or at least fade. If the dynamics of purchase continues to intensify, the asset could enter the first steps of a potential recovery. The Ichimoku indicator shows a downside scenario The graphic of the Ichimoku cloud shows that the action of the courses remains below the red basic line (Kijun) and the blue conversion line (Tenkan). This indicates that the prevalent dynamics are always down. Candles are currently forming well below the cloud, which reflects a wider lower trend. When the course is below all the major components of Ichimoku as is the case for the moment, this tells us that the pressure is always downward oriented. It would take a strong reversal in order to break the levels of resistance and find colors. XRP Ichimoku cloud. Source: tradingView. In addition, the upcoming cloud is red and extends horizontally with a descending slope, strengthening the short -term lower perspective. The thickness of the cloud suggests a moderate resistance if the course seeks in one way or another to go up. However, more than a return of the increase, the last candles show a certain consolidation. Thus, the increase is becoming increasingly difficult, even if the sellers could lose a little of their control. For any trend reversal, the XRP will have to cross its Tenkan and its Kijun before making its potential return to the cloud itself. The XRP ready to read? The exponential mobile average lines (MME) of the XRP are clearly aligned in a downward training, the short -term averages being well below the long -term averages with a notable gap between them – highlighting a strong descending dynamic. Moreover, the XRP course recently tested its level of support at $ 2.06 before bounced. Buyers would therefore always be active in this area. However, support is still critical. If it is tested again and fails to hold, the XRP could fall more. His next major support is around $ 1.90. Analysis of the XRP course. Source: tradingView. If the trend is starting to change and the XRP crosses the Ms. in the short term, the first key resistance to monitor is $ 2.22. A successful movement above this level could trigger a stronger recovery, potentially pushing the course to $ 2.47. If the upward dynamics continue, the following increase target would be $ 2.59. However, for the moment, the structure is still leaning on the bearish side. Ripple’s part greatly needs sustained purchase pressure to reverse the trend and target higher resistance levels. Notice of non-responsibility Non-responsibility notice: In accordance with the guidelines of The Trust Project, this article of price analysis is only intended for information purposes and should not be considered as financial or investment advice. Beincrypto undertakes to provide exact and impartial information, but market conditions may change without notice. Always carry out your own research and consult a professional before making any financial decision.
