Ripple Tends To Join The Downtrend Again
According to the charts, the ripple is trading over the 200 MA and 50 days MA crossed the 100 days MA but momentum indicators are not showing strength in the move which makes this move to be another whipsaw.
The current value of ADX is below 25 which indicates low strength in the sudden uptrend.
MACD has started a decline due to the selling pressure and profit booking.
If the RSI trend line is crossed then the probability of reaching $.284 will increase.
Ripple Tends To Join The Downtrend Again. According to the charts, the prices have crossed the primary trend line but it seems bears are again in the force.
So for a profitable trade, we have the resistance at $.359 which we can use as a reference. If the close of today’s candle with above-average volume crosses $.359 then the price will dip to $.284 and will trade in the consolidation zone.
If the price respects the resistance at $.359 and bounces back then the target of $.47 can be seen. Chances as of consolidation at $.359 are quite less as price held at this level in the history of ripple’s pricing.