The opening price of XRP on February 10, 2021, was $0.47. As of February 16, 2021, the closing price of XRP was $0.52. The price has surged by approx. 11%. Thus, the past week has been positive for the XRP price. In the last 24 hours, XRP has been trading between $0.48-$0.58. https://ift.tt/2OKMJ1s XRP Swinging Today and Tomorrow Today, the opening price of XRP was $0.52. Currently, XRP is trading at $0.51. Thus, the price has dropped. The price is below the SMA and EMA lines. Hence, we can expect the price to fall further. The A/D and OBV indicators are downward sloping too. Hence, whale distribution is higher than accumulation. This will exert downward pressure on the XRP price. Presently, the RSI is at 26%. It is in the ‘oversold’ region indicating high selling pressures in the XRP market. However, it is a strong signal for swing traders to go long. The RSI will start rallying soon. The stochastic oscillator is also below the 20% mark in the ‘oversold’ region. Thus, there is heavy offloading of XRP by whales. However, the actual value line has crossed above the 3-day SMA line. The stochastic oscillator has started rallying. We can expect buying activity to gradually pick up. Indicators to Watch The MACD and signal lines are negative. A bearish crossover by the MACD line over the signal line indicates bearish market momentum. Hence, the price pullback will continue for some time. However, they are slowly moving near the zero line and may become positive in some time. The AO indicator is negative giving further credence to bearish momentum. The ‘sell’ signals are strong. Hence, the price will struggle to go up. The ADX indicator has started rising. There is a bullish divergence. Thus, we can expect the price to rise after an intermittent price pullback. Currently, the price is below the Fibonacci pivot point of $0.53. The price is at the 76.4% FIB retracement level of $0.50. If the XRP price falls below the first Fibonacci pivot support point of $0.49, then probably a downtrend has set in. To sum up, looking at the 7-day price chart, there is a price downtrend. By the end of the day, if the price manages to close above the Fibonacci pivot point, we can be assured that the price uptrend has resumed. Otherwise, the bear-run is likely to continue tomorrow as well.
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