Ripple $XRP Price Outlook: Bearish – allcoinsnews.com

Fibo Quantum

December 28 2018 08:53 UTC

Price Action

The price of $XRP has fallen over twenty-four hours. The last price at press time is .34242 USDT. In Binance moderate to heavy volume trading the daily change is -4.55%, or -0.01631 USDT:

$XRP Price Change
period % USDT
24 hours -4.55 -0.01631
7 days -3.28 -0.01163
1 month -12.69 -0.04978

News

Investing.com is running a headline “Asia stocks advance after Wall Street’s recovery continues”. There is little or no correlation between stock prices and the price of crypto, based on a five year chart comparison of stock and crypto movements.

Trend

trend is DOWN

[Trend is “down” when the three day price movement is predominantly downwards.]

Real Time Market Depth

The real time market depth is strongly bearish.

[The real time market depth is a fractional representation of the order book, used to assist in determining market direction.]

Chart

Tap / click to zoom:

xrp-usdt-binance-four-hour-candles-2018-12-28

Remarks

Luckily $XRP has been dancing to a slightly different tune than the descending $BTC. Ripple enjoyed a nine day Christmas Rally which started on the fifteenth of December. From a low of .28050 on the fourteenth of December $XRP climbed to a high of .45000 on the 23rd. Then three days of descent, but not reclaiming all of the rally gain.

Technicals

Moving Average Convergence Divergence (MACD)

The MACD on the four hour chart is strongly bearish. There have been twenty consecutive four hour sessions most of which are strongly bearish.

[MACD is a trend-following momentum indicator]

Exponential Moving Averages (EMA)

period average
7 day .34536
25 day .35920
99 day .35185

The short term EMA(7) on the four hour chart is below both the medium EMA(25) and long term EMA(99) in that order, and is pointing south. This is a bearish state.

[EMA is a type of moving average that weights recent price fluctuations more, yielding a better short term signal]

Relative Strength Index (RSI)

The Relative Strength Index on the one hour chart is 43.6. This is a neutral state.

The one, two, four, six, twelve hour and daily RSI indicators are all in the neutral zone.

[RSI is is a momentum indicator that measures the magnitude of recent price fluctuations to determine an overbought or oversold state]

Bitcoin $BTC Price Modifier

The 24 hour Bitcoin $BTC change is -4.39%. This may exert a bearish influence on Ripple today.

[The bitcoin price modifier reflects the historical correlation between the price of $BTC and altcoins]

Ripple $XRP Price Outlook

bearish
  • the Ripple $XRP price outlook is bearish
  • if the price finds acceptance at higher levels the major resistance prints at .375
  • if the price finds acceptance at lower levels the major support prints at .325
Resistance levels: .375 .360 .344

Support levels: .325 .328 .333

Invalidation: This outlook is no longer valid if the asset has performed outside of its resistance or support levels, or outside of its short term analysis duration.

Analysis Duration: twelve hours

This report is for a short term duration of twelve hours. Analysis is time sensitive.

[Analysis duration is the “best before date”, calculated from report generation at December 28 2018 08:53 UTC.]

Independent Comparison

Comparing our outlook with independent, automated results from Investing.com shows:

Asset: Ripple $XRP

Time Period: Daily

Summary: strong sell

Moving Averages: strong sell

Technical Indicators: sell

Disclosure

The author holds Ripple $XRP at the time of writing.

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