Hello, welcome to this XRP/USD 4Hr chart update by CRYPTO SANDERS.
I have tried to bring the best possible outcome to this chart.
CHART ANALYSIS:-The large bearish flag was broken to the downside earlier, and the price has been declining as a result.
From a classical price action standpoint, a retest of the $0.3 support level looks imminent. However, the RSI indicator is currently showcasing a clear bullish divergence in this timeframe. This could hint at a probable pullback toward the lower trendline of the pattern in the short term.
Whether this pullback occurs or not remains to be seen, but the bearish momentum and the overall market structure both increase the likelihood of a drop-down to the $0.3 level in the near future.
This is not a piece of financial advice.
Hit the like button if you like it and share your charts in the comments section.
Thank you
I have tried to bring the best possible outcome to this chart.
CHART ANALYSIS:-The large bearish flag was broken to the downside earlier, and the price has been declining as a result.
From a classical price action standpoint, a retest of the $0.3 support level looks imminent. However, the RSI indicator is currently showcasing a clear bullish divergence in this timeframe. This could hint at a probable pullback toward the lower trendline of the pattern in the short term.
Whether this pullback occurs or not remains to be seen, but the bearish momentum and the overall market structure both increase the likelihood of a drop-down to the $0.3 level in the near future.
This is not a piece of financial advice.
Hit the like button if you like it and share your charts in the comments section.
Thank you
