Ripple (XRP) continues its range-bound trading since mid-October. Will we see a major move in the near future? – Chart analysis on November 3
We will look at XRP/BTC daily chart. Since October 17, XRP has not formed a candlestick with a large real body within the daily chart, and its price movement has aligned with the 200-day moving average. XRP has been trading in a range for about half a month, and today November 3 as well, the Bollinger Bands are becoming very narrow. The movement converging toward the candlestick of the Bollinger Bands indicates that XRP will become more sensitive to future movements, and the upcoming price direction is likely to tilt strongly in one direction.
In a directionless price movement, the MACD, which had been below for a long time, finally showed a golden cross with its signal. Going forward, will XRP move upward in line with the MACD’s movement?
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