Investors have been actively working on Rippleso much bullish and bearish in the middle of a fight to see who will win the battle according to Jai Hamid in Ambcrypto.
The opening and closing prices of XRP throughout the days show an overall bearish trend with slight recoveries. As seen in the chart below, the MACD line fluctuates around the zero line, indicating a market in balance between bulls and bears.
The presence of blue peaks above the signal line briefly suggests bullish momentum but quickly neutralizesas seen in the posterior red valleys below the signal line.
Will the bullish momentum stop or…?
The Occasional spikes in the RSI show brief periods of increasing buying pressure, but are not sustainedIndicating that Any uptrend is tentative and not strongly supported due to continuous purchasing pressure.
The presence of multiple bullish flags on the chart aboveparticularly after bullish movements, indicates a continued bullish momentum.
However, these poles are followed by horizontal or minor recoil movements that form the “flags”, as shown in the graph above. This pattern usually indicates a consolidation phase.
The price has shown resistance by maintaining levels above previous resistance zones turned into support.
Each bullish flag forms at a higher level than the previous onewhich suggests a small but constant bullish sentiment.
In the last five days, XRP has seen cases where An inverse head and shoulders pattern could have formed. However, these cases They appear messy and overlapping due to frequent markingsindicating constant attempts by bears to reverse the uptrend.
The current chart movements around the marked areas suggest Frequent testing of resistance levels. He XRP social volume has decreased since the beginning of the yearbut he is currently doing better than a month ago.
Social dominance also appears to be in a ascending trendalthough not at the maximum levels observed in December and January.
With everything, XRP bears are actively fighting the bulls and, to keep the momentum going, Buying pressure must increase significantly.
Ripple opens Tuesday’s session lower at $0.5031. The 70-period moving average is above Tuesday’s candle, RSI is down at 49 points and the MACD lines are below the zero level.
Medium-term support is at $0.453. Meanwhile, Ei indicators are mixed.
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