Markets are waiting for the arrival of the FOMC meeting, which has been creating uncertainty. Last night, XRP closed its second consecutive weekly red candle. This put the rising trend that began in mid-November on the edge of reversal.
Technical Analysis
By Grizzly
The Daily Chart
Ripple is trading below the 200-day moving average line (in white) on the daily chart and is expected to close a third consecutive candle below it.
The descending triangle (in yellow), technically a bearish pattern, has resulted in lower highs, indicating that sellers have the upper hand in influencing market outcomes. Short setups can be triggered if the price slips below the horizontal support at $0.37. The initial short-term support in this scenario is found at $0.35.
A breakout from above and a $0.4 flip, on the other hand, would be bullish. The cryptocurrency would likely retest $0.42 in this scenario.
Leaving this level behind will pave the way for a bullish rally on the daily chart. A move of this mag
We współpracy z: https://cryptopotato.com/positive-ripple-trend-interrupted-by-second-red-weekly-close-xrp-price-analysis/
