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Is the Rally authentic or are we falling under the support?

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Ripple weekly XRP logarithmic chart – Source: Tradingview.com

A look at the weekly logarithmic chart for Ripple's XRP shows that the price-adjusted support is $ 0.25 – $ 0.30 once again, and the same time as the last time a brief rally followed.

However, compared to the beginning of September, the rally was shorter and with a lower volume.

If the area does not hold up, the next support level will be $ 13- $ 17.

Long-term Outlook

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Ripple's weekly XRP chart – Source: Tradingview.com

A look at the indicators on the weekly chart shows that the MACD is close to making or rejecting a bullish cross.

In addition, the price has found resistance to the 7-period moving average and is forming an inverted hammer candle, which is a bearish reversal sign.

The RSI is slightly above 40, indicating conditions that are neither overbought nor oversold.

Medium-term Outlook

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Ripple 3-day XRP Chart – Source: Tradingview.com

A look at Ripple's 3-day chart for XRP gives conflicting signs.

While the MACD is trying to make a bullish cross, the moving averages of the period 7 and 21 are making a bearish cross and act as resistance.

It is of great importance to keep an eye on the next weekly contribution on Monday, December 31st.

Short-term Outlook

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Ripple 12-hour XRP Chart – Source: Tradingview.com

A look at the 12-hour chart shows that the price resistance reached at $ 0.45 at the 200-period moving average has therefore been retraced.

There is a slight bearish divergence in the RSI, and the MACD has made a bearish cross.

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Ripple 6-hour XRP Chart – Source: Tradingview.com

A look at the 6-hour chart further confirms the results of the 12-hour chart.

There is a significant bearish divergence in the RSI, MACD and Chaikin Oscillator.

conclusions:

  • The price fell in the support area of ​​$ 0.25 – $ 0.30 for the third time.
  • Short-term indicators are bearish.
  • The next support area will be $ 0.13 – $ 0.17.
NOTE: Investing or negotiating digital assets, such as those present here, is extremely speculative and involves considerable risks. This analysis should not be considered an investment advice, use it for information purposes only. The historical performance of the assets discussed is not indicative of future results. Statements, analyzes and information on blokt and associated or associated sites do not necessarily correspond to the opinion of blokt. This analysis should not be interpreted as advice for purchase, sale or storage and should not be taken as approval or recommendation of a particular asset.

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