Ripple / Dollar Cryptocurrency Forecast
Ripple / Dollar cryptocurrency downgraded from Hold/Accumulate to Sell Candidate after Thursday trading session.
(Updated on Apr 25, 2024)
The Ripple / Dollar cryptocurrency price fell by -4.16% on the last day (Thursday, 25th Apr 2024) from $0.553 to $0.530. During the last trading day the cryptocurrency fluctuated 3.78% from a day low at $0.513 to a day high of $0.533. The price has fallen in 6 of the last 10 days but is still up by 6.52% over the past 2 weeks. Volume has increased on the last day by 1 billion shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 1 billion shares were bought and sold for approximately $727.17 million.
The cryptocurrency lies in the lower part of a very wide and weak rising trend in the short term, and this may normally pose a very good buying opportunity. If the lower trend floor at $0.490 is broken, it will firstly indicate a slower rate of rising, but may also be an early warning for a trend shift. Given the current short-term trend, the cryptocurrency is expected to rise 6.63% during the next 3 months and, with a 90% probability hold a price between $0.523 and $0.754 at the end of this 3-month period.
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XRPUSD Signals & Forecast
There are mixed signals in the cryptocurrency today. The Ripple / Dollar cryptocurrency holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the cryptocurrency giving a more negative forecast for the stock. On further gains, the cryptocurrency will meet resistance from the long-term Moving Average at $0.575. On a fall, the cryptocurrency will find some support from the short-term average at $0.527. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the cryptocurrency should be followed more closely. A buy signal was issued from a pivot bottom point on Saturday, April 13, 2024, and so far it has risen 9.38%. Further rise is indicated until a new top pivot has been found.
Support, Risk & Stop-loss for Ripple / Dollar cryptocurrency
Ripple / Dollar finds support from accumulated volume at $0.507 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This cryptocurrency may move much during the day (volatility) and with a large prediction interval from the Bollinger Band this cryptocurrency is considered to be "high risk". During the last day, the cryptocurrency moved $0.0194 between high and low, or 3.78%. For the last week, the cryptocurrency has had daily average volatility of 3.66%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (XRPUSD) For The Upcoming Trading Day Of Friday 26th
For the upcoming trading day on Friday, 26th we expect Ripple / Dollar to open at $0.525, and during the day (based on 14 day Average True Range), to move between $0.491 and $0.568, which gives a possible trading interval of +/-$0.0384 (+/-7.24%) up or down from last closing price. If Ripple / Dollar takes out the full calculated possible swing range there will be an estimated 14.49% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $0.507 (4.34%) than the resistance at $0.572 (7.91%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Is Ripple / Dollar cryptocurrency A Buy?
Ripple / Dollar holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this cryptocurrency. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this cryptocurrency since the last evaluation from a Hold/Accumulate to a Sell candidate.
Current score: -1.179 Sell Candidate Downgraded
Predicted Opening Price for Ripple / Dollar of Friday, April 26, 2024
| Fair opening price April 26, 2024 | Current price |
|---|---|
| $0.525 ( 0.82%) | $0.530 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for XRPUSD
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.545 | 2.84 % | |
| R2 | 0.537 | 1.44 % | ||
| R1 | 0.533 | 0.580 % | ||
| Current price: | 0.530 | |||
| Support | S1 | 0.518 | -2.22 % | |
| S2 | 0.513 | -3.09 % | ||
| S3 | 0.506 | -4.49 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0.661 | 24.87 % | |
| R2 | 0.653 | 23.28 % | ||
| R1 | 0.572 | 7.91 % | ||
| Current price | 0.530 | |||
| Support | S1 | 0.507 | -4.34% | |
| S2 | 0.497 | -6.12% | ||
| S3 | 0.484 | -8.57% |
FAQ
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