XRP is still trading sideways on the daily chart and bulls look quite hopeless there. The EMA’s continue to be bearish and bulls have failed to cross above the 26 and 12 EMA’s many times in a row. The RSI is also not helping the bulls as it’s not oversold just yet.
The weekly chart is not looking any better and a bear flag might still be in play if the bears are able to break below $0.29 which is really not far, considering we are trading at $0.295 right now.
However, there might be some hope for the bulls in the XRP/BTC chart after a 4-hour reverse head and shoulders pattern that got confirmed and saw continuation. The EMA’s did cross bullish and the 4-hour chart is currently in a bull flag waiting to be confirmed.
The daily chart certainly still needs a lot more help and bulls were rejected by the 12 day EMA, however they are still looking for more continuation as the RSI is not even close to overbought and there seems to be enough momentum behind this recent bull move.
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