Crypto NewsRipple (XRP)

Buyers Show Weakness But Will Ripple Face Another Selloff?

                                                            Wenngleich Ripple auf seiner entscheidenden Unterstützung gehandelt wird, scheinen die Käufer nicht viel Lust zu haben, das fallende Messer zu fangen.  Daher stellt sich die Frage, ob die Cryptowährung einen erneuten Ausverkauf erleben wird?

Technical Analysis

By Grizzly

The daily chart

Although the bearish momentum has been reduced, there are still no signs of bulls entering the market on the daily time frame. These downtrend stops are usually caused by traders closing their short positions (taking profits). In addition, there are no positive movements in the chart at the same time.

Expect the market to sell off again if the forthcoming Fed announcement sends a negative signal to the market. In this case, $0.22-$0.24 can be considered as a support zone.

Based on the current market structure, any uptrend that fails to cross the $0.5-$0.55 resistance area should be considered a fake breakout.

Key support levels: $0.32 and $0.22
Important resistance levels: $0.44 and $0.50
Buyers Show Weakness But Will Ripple Face Another Selloff?, Crypto Trading NewsSource; trading view
Moving Averages:
MA20: $0.35
MA50: $0.41
MA100: $0.58
MA200: $0.81

The XRP/BTC-Diagram

Against BTC, the upward movement stopped when the price crossed the horizontal Resistance peaked at 1700 sats. This chart shows the resistance zone in the 1700-1800 sats range (in red).

If the bulls are unable to sustain the positive momentum, the rally could also be validated as a dead cat bounce. As long as the price fails to break through the critical resistances, the overall picture is bearish.

Key support levels: 1550 Sat & 1250 Sat
Important resistance levels: 1700 Sat & 1800 Sat
Buyers Show Weakness But Will Ripple Face Another Selloff?, Crypto Trading News TradingView

Source: Crypto News Deutsch

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