$XRP

General Summary

The trend is clearly downwards with a strong likelihood of continuation if no clear reversal candles appear

Details

1. Consecutive bearish candles with strong momentum without any reversal candle so far

2. EMA

- EMA 7 (Yellow) below EMA 25 and 99 ⇒ Confirmation of the bearish trend

- Divergence between the averages = momentum

3. RSI (14) = 30.28

- Very close to oversold but has not provided a bounce yet, watch for any upcoming rise above 35.

4. MACD

- The red bars are increasing and the lines are diverging ⇒ Continuation in the bearish trend

5. Volume

- A massive red candle at the last moments, this shows very strong selling pressure

Conclusion

- This is considered a collapse or strong selling pressure

- If the level of 2.95 is broken consistently, the next target could be 2.90 or lower 2.80

- There is currently no buy entry signal until we see

- A reversal candle (like a hammer or engulfing)

- An increase in RSI

- And a decrease in the size of the red bars of the MACD

Advice: Monitor price behavior at 2.95 or 2.90 and its reaction there is very important