XRP Price Signals to Enter “Death Cross” Mode Soon By CoinQuora


© Reuters. XRP Price Signals to Enter “Death Cross” Mode Soon
  • price is going to enter a new “death cross” in the next few days.
  • XRP’s 50-day SMA would fall dramatically below the 200-day SMA in the upcoming days.
  • Analysts see the XRP’s death cross movement to be a bearish market indicator.

Based on a closely watched XRP current price chart, XRP has set to form a “death cross” in five months. Looking at the behavior of the chart, crypto analysts have mentioned that the upcoming “death cross” movement of the XRP price could cause a bearish market.

In particular, the 50-day Simple Moving Average (SMA) pattern of the XRP’s price is predicted to fall below its 200-day SMA. In fact, analysts expect this downward trend of the XRP price to occur in the next few days.

On the other hand, the chart also suggests a deeper sell-off. In fact, the sell-off signals a clearer confirmation of the upcoming bearish death cross. Casting our mind back, there have been several death cross incidents over time.

Even the …

Continue reading on CoinQuora

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





Source link

LEAVE A REPLY

Please enter your comment!
Please enter your name here