$BTC $XRP XRP/USDT (4h)
Current Trend
The XRP/USDT pair is trading at 2.3543, down -3.03% in the last 4 hours. The asset is trading below the 5-period moving average (MA(5): 2.4787) and is close to support at 2.3333 (24h low), indicating weakness in the buying movement.
Technical Indicators
Bollinger Bands:
Medium (MB): 2.4092 – the price is below, suggesting a bearish bias.
Upper band (UP): 2.4787 – immediate resistance.
Lower band (DN): 2.3397 – close to support, with possible testing.
MACD:
MACD line at -0.0083 and the signal line (DEA) at 0.0086. The histogram is negative, reflecting upward weakness and continued selling pressure.
RSI (6): 32.61 – signals an oversold region, with potential for correction in the short term.
RSI (14): 44.61 and RSI (24): 48.55 – reinforce the weakening of buying strength.
Trading Volume
The volume at 1.661 million is low compared to periods of greater volatility. This may indicate a lack of conviction among buyers for a reversal at the moment.
Resistance and Support
Resistance: 2.4092 (Bollinger average) and 2.4787 (upper band).
Support: 2.3397 (lower band) and 2.3333 (24h low).
Market Outlook
Whales may wait for a confirmation of a support break to initiate positions or accumulate at lower prices.
Small traders may seek short trades with targets between 2.3333 and 2.4092, taking advantage of the oversold scenario.
Conclusion:
The current movement suggests a continuation of selling pressure in the short term. If the support at 2.3333 is not held, a new bearish leg is possible. However, the oversold region may attract buyers for a slight technical rebound.
Disclaimer: This analysis is educational and does not constitute financial advice. Trading in the market involves risks. Operating with caution is essential! ✅