Ripple Looks Technically Weak
Attention should be paid to the signals to be received from oscillators
Ripple 0,1887 USDT (-0.92%)
As we mentioned in our analysis titled "Transfers Intensified in Ripple, There Has Been Pressure in the Movement", which we wrote yesterday, the transfer of 160 million XRP has been a suppressive factor in the performance of Ripple. Thereupon, the company's CEO, Brad Garlinghouse, scored a reproach. Stating that payments should be as easy as sending emails, Garlinghouse is believed to be referring to Ripple's participation in Open Payments Coalition. Although it is a nice development that it will cooperate with the leading names of the crypto industry such as Blockchain.com, Brave, Huobi with this coalition, we see that it is not a positive catalyst for XRP prices.
The rejection of 3 times by the minor declining trend and the oscillators hovering in over-selling regions does not create a positive outlook for XRP in the short term. However, Stochastic and% R oscillators move upwards from the over-sales region and break the lower band may be seen as a buy signal and may become a catalyst that will positively affect Ripple's low performance. However, at this point, it should be noted that the transaction volume and the oscillators give a safe signal. Therefore, signals can be waited and positioned gradually.
XRPUSDT, 4-Hour chart