【XRPJPY】Life under the 20SMA for a while continues

As I mentioned in the 5th post on July 15th, Ripple is not looking good. Looking at the weekly chart, it has remained below the middle line of the Bollinger Bands — the 20SMA — and has now passed 21 weeks.

For timing, note that it rose from about 29 yen to around 400 yen in 4 weeks, then fell to about 60 yen in 5 weeks, and then 23 weeks have elapsed since then. The big swings occurred over 9 weeks, and since then it has been slowly losing momentum over more than twice that time.

Furthermore, after a sharp drop, the sequence has continued as 4-down days, 4-up days, and 3-down days (only three consecutive candles of the same color are counted), with no movement exceeding a “4.” If you are looking for a future rise, the key point to watch is whether it can achieve 5 consecutive up days.