$XRP Coin Analysis on the hourly chart:
Notes:
1. Current price:
$2.1719, down -8.48%.
2. Moving Averages (MA):
MA(7): 2.1267
MA(25): 2.2423
MA(99): 2.4234
The current price is below all averages, indicating a bearish trend.
3. Relative Strength Index (RSI):
The value is approximately 49.27, which means that the momentum is not in the overbought or oversold zone.
4. MACD:
The values DIF -0.0566, DEA -0.0500, indicating that the negative momentum continues, but there is a close overlap between the two lines that may reflect a change soon.
5. Parabolic SAR:
Dots above the price, which is an additional indicator of the downward trend.
Recommendations♥♥:
Currently, the trend is bearish and the price may be in a correction phase.
If you are thinking of buying, watch the nearby support level at 1.9601.
In case of a clear break of the downward trend (e.g. exceeding MA(25) at 2.2423), there may be a chance for a rebound.
Use a tight stop loss when entering any trade.