XRP.X in downward trend: price expected to drop as it breaks its higher Bollinger Band on May 20, 2024

XRP.X broke above its upper Bollinger Band on May 20, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options. The A.I.dvisor looked at 67 similar instances where the stock broke above the upper band. In 35 of the 67 cases the stock fell afterwards. This puts the odds of success at 52%.

Technical Analysis (Indicators)

Bearish Trend Analysis

The Momentum Indicator moved below the 0 level on May 30, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on XRP.X as a result. In 71 of 136 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are 52%.

The Moving Average Convergence Divergence Histogram (MACD) for XRP.X turned negative on May 31, 2024. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 55 similar instances when the indicator turned negative. In 26 of the 55 cases the stock turned lower in the days that followed. This puts the odds of success at 47%.

XRP.X moved below its 50-day moving average on May 29, 2024 date and that indicates a change from an upward trend to a downward trend.

The 50-day moving average for XRP.X moved below the 200-day moving average on April 30, 2024. This could be a long-term bearish signal for the stock as the stock shifts to an downward trend.

Following a 3-day decline, the stock is projected to fall further. Considering past instances where XRP.X declined for three days, the price rose further in 50 of 62 cases within the following month. The odds of a continued downward trend are 47%.

$XRP

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