Could XRP’s Weak Market Suggest a DownFall in the Coming Days?

• XRP has fallen to the fifth position and still continues to fight after experiencing a 1.38% surge over the week.
• The altcoin is currently trading at $0.7064 after witnessing a 1.98% fall in one day.
• Bollinger Bands and ADX confirm that the volatility and trend’s strength may become weak.

Falling to the fifth position, XRP is currently trading at $0.7064 after witnessing a 1.98% fall in one day, according to CoinMarketCap. Earlier, XRP was seated at the fourth position, which was a result of the massive double-digit spike it experienced. However, at the reported time, the altcoin still continues to hold its ground after it experienced a 1.38% surge over the seven-day period. The surge that the altcoin is still experiencing could be one of the reasons that XRP is still residing in the green zone.

Taking a look at a few indicators, XRP’s trend strength and volatility in the market may reduce as the days pass. Although the strength may be little, XRP could continue trading sideways at its current level between the $0.75 and $0.65 regions. The Bollinger Bands contracting could be considered as one of the signs that the market volatility may reduce. The Bollinger band Width indicator pointed downward further confirms this theory.

The ADX is currently valued at 47.58, which could indicate XRP’s trend is still strong. However, it seems the that the trend’s strength may also fall soon. ADX pointing downward could be considered as a signal that the trend may fall below 25, thus, creating a weak trend.

Based on Saturday’s analysis, XRP still shows a potential opportunity for optimistic traders. XRP is still maintaining a bull trend fight and is trading between the $0.6769 and $0.8203 levels. In case the altcoin falls below $0.6769, then, XRP could be trading above $0.5594, which could be considered a buying opportunity for traders.

Finally, XRP may have missed forming a double-top, which could suggest that a fall may not happen. However, it is best if traders wait for a few more days and for more signals before confirming the trend of XRP. 

Disclaimer: The views and opinions, as well as all the information shared in this price analysis, are published in good faith. Readers must do their own research and due diligence. Any action taken by the reader is strictly at their own risk, Coin Edition and its affiliates will not be held liable for any direct or indirect damage or loss.