XRP Rally Weakens After 333% Surge in a Month
Ripple (XRP) price has seen the largest increase among the top ten coins in the past 30 days, rising by 333%. However, recent indicators suggest its bullish momentum may be fading.
Ripple relative strength index It is currently at 47.9, indicating a neutral stance after previously being in overbought territory. Additionally, Chaikin Money Flow (CMF) has turned negative, indicating increased selling pressure, which could signal further price declines.
XRP RSI is currently neutral
ripple The RSI is currently at 47.9, down significantly from its previous value of above 70 on December 2-3. An RSI above 70 usually indicates that an asset is overbought, indicating that it may be due for a correction or pullback.
A break below 70 indicates that XRP is no longer in overbought territory, and the recent decline may reflect the fading of the uptrend that drove its price higher.
The Relative Strength Index (RSI) is a momentum oscillator that measures the speed and change of price movements. It ranges from 0 to 100, with a reading above 70 indicating overbought conditions and a reading below 30 indicating oversold conditions.
as Ripple The RSI has fallen back below 70, which could signal the end of the recent bullish momentum. If the RSI continues to move lower, it could indicate further downside potential for XRP and the price could face more resistance as the uptrend fades.
Ripple CMF is now negative after 6 days
After a positive period between November 29 and December 5, XRP’s CMF (Chaikin Fund Flow) has dropped to -0.10. As the CMF measures the flow of money into and out of the market, a shift toward negative values indicates increased selling pressure. assets.
A negative CMF indicates that more money is flowing out of the asset than flowing into it, which can be a bearish signal for prices.
CMF is an indicator that combines price and volume to measure buying and selling pressure during a specific period. It ranges from -1 to +1, with positive values indicating accumulation (buying pressure) and negative values indicating distribution (selling pressure).
XRP’s current CMF is -0.10, its lowest since November 21, indicating that market sentiment has turned bearish. Negative CMF values could signal further downward pressure Ripple price In the short term, this suggests that the asset may face resistance in maintaining its value or may experience further declines.
Ripple Price Prediction: Will XRP Fall Below $2 in December?
ripple The EMA line shows that its short-term line is currently above the long-term line, indicating an overall bullish outlook. However, Ripple price Prices are currently trading below the shortest moving average, which could signal the beginning of a downtrend.
If this trend continues, Ripple price It may face downward pressure and may test the support at $1.88.
If the downtrend is avoided and the uptrend resumes, corrugated price A rise is likely to test resistance at $2.90. If this resistance is broken, further gains are likely, with the next major level of interest at $3.
Disclaimer
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