Transfers Intensified in Ripple, Pressure Appeared in Motion
Resistance on falling trend worked
Ripple 0,191USDT (-0.52%)
Transfers have intensified recently in Ripple. According to the data provided by the twitter bot named XRPL Monitor, which announced the transfers made by Ripple, more than 160 million XRP transfers were made within 2 days. While 30 million XRP was transferred to an unknown wallet, the remaining portions were transferred to Ripple's own accounts. He also reported 75 million XRP between his wallets at Chris Larsen, co-founder of Ripple. The reason for these transfers is unknown, but it appears that XRP is putting pressure on its performance.
When we consider it technically, we see that the minor decreasing trend that Ripple started to follow as of June is getting stronger. Working as a strong resistance, this trend seems to have triggered a sale every time it touches XRP. In addition, at the intersection of the 0.118USDT support zone with this trend, Ripple has entered a triangle jam. We see that the% R and Stochastic oscillators are leaning towards the sales direction and a positive mismatch occurs in the RSI. These arguments make Ripple technically weak.
As a result, due to the fact that the transfers made in the basic sense suppress the Ripple performance and technically weakness, you can both be protected from the risk of a sharp drop and make XRP purchases at lower levels. In addition, if the triangle jam breaks upwards voluminously, you can follow the resistance levels closely and make profit realization sales at these levels.
Resistors: 0,200 / 0,210 / 0,232
Supports: 0,189 / 0,174 / 0,157
XRPUSDT, 4-Hour chart