XRP has increased by more than 8 % over the past seven days, but it was unable to maintain the strong momentum that SEC raised to drop a lawsuit against Ripple.
After the initial mutation, XRP entered a stage of monotheism, with price procedures between the main support levels and resistance levels. Technical indicators now reflect a market when stopping, with momentum and uninterrupted direction.
XRP RSI is currently neutral
The XRP (RSI) is currently 52.89, a noticeable decrease from 63.90 just one day ago. This sharp decline indicates a weakness in the last upscale momentum, as it seems that buyers lose control in the short term.
Live indicators are now sliding into neutral lands, indicating that the market participants are increasingly sure about the next step.
More importantly, XRP has not reached RSI levels that exceed 70 – associated with excessive anxiety and strong upward conditions – since March 19, more than a week ago, indicating that there is no strong purchase pressure during this period.
RSI, or the relative strength indicator, is a momentum oscillator widely used to measure the speed and change of price movements on a scale from 0 to 100.
RSI’s reading above 70 usually indicates that the original has been clarified and may be due to decline, while reading below indicates that it may be excessive and prepared to apostasy. The values reflect between 50 and 70 in general, the bullish momentum, while the readings range between 30 and 50 meager declines.
With XRP sitting now at 52.89, it remains higher than the center point, but it approaches neutrality, indicating that the last upscale phase may be cooling unless the purchase activity is renewed.
Ichimoku Cloud displays an uninterrupted market
The XRP cloud chart displays a market in monotheism, where the movement of the price above the cloud hovers slightly but lacks a strong momentum.
Tenkan-Sen and Kijun-Sen lines are relatively flat and approached together, indicating a stop in the strength of the direction and the balance between buyers and sellers.
The absence of a clear Tenkan/Kijun Cross supports the idea that the market is in a neutral stage instead of decisively in any of the two directions.
The next cloud is thin and a little good. This indicates that although there are some support under the price, it is not particularly strong.
The delicate cloud usually indicates possible weakness, as it may not withstand well with increased pressure pressure. Meanwhile, Chico (late line) interacts closely with the previous price movement, another sign that the momentum weakens.
In general, the Ichimoku setting reflects uncertainty, as XRP needs a decisive boost in either direction to escape from this structure heading to the range.
Will XRP penetrate 2.50 dollars?
XRP has witnessed a strong increase in the aftermath of news that the Supreme Education Council had dropped its case against it. However, this initial momentum has since been cool.
The price is now discovered between the resistance area at $ 2.47 and supported at $ 2.35. This highlights the stage of monotheism and frequency.
If the current support level is re -tested and a failure to keep it, XRP may see an increase in the sale pressure. It would open the door to move to $ 2.22. If the landmark is condensed, it is possible to decrease the deeper of about $ 1.90.
On the other hand, if buyers can restore control and pay the XRP price over $ 2.47 resistance.
The following goals in this scenario will be $ 2.59 and $ 2.749, both of which are in line with the previous areas of rejection.
If you collect the bullish trend, XRP can rise to $ 2.99.
Disintegration
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