Crypto Screener Forums Ripple (XRP) Forecast – Technical Analysis Ripple (XRP) Technical Analysis – May 2018 Reply To: Ripple (XRP) Technical Analysis – May 2018

#17652
margincall
margincall
Keymaster

Taking a look at the Ripple market versus the US Dollar. Taking a quick look at the chart we can see the market is following a similar trend to that of Bitcoin.

xrpusd forecast 18 May 2018

The bearish pressure proved to much for the bulls and the market has seen some selling pressure since the end of April. Just like Bitcoin the charts are giving many contradicting signals. We can see buying support above $0.60 and if we can consolidate above $0.65 going into the weekend it might be a sign of recovery, and even possibly a bounce.

Currently the bearish momentum is confirmed by the indicators as well as candlestick patterns and trend lines. Like I mentioned in the Bitcoin report, volume is quite low and the next move will be determined by the buying/selling pressure.

Safe trades.