Meet again with me Wahyu Nahrul, This time I want to make a brief technical analysis of a cryptocurrency chart, the analysis I made is based on my experience and knowledge.

_{Made on PowerPoint}

Alright, let's get straight into the discussion, Happy reading!!

Ripple (XRP) Analysis

Today, February 02, 2024, I will try to analyze the price movement of Ripple technically.

SOURCE: TradingView

If we look at the price movement of XRP in general, we can see that XRP is in a very deep bearish phase. We can see this in the XRP price movement pattern in the chart above where the candlestick tends to move downwards if we look closely.

SOURCE: TradingView

This is confirmed by the EMA Indicator with a Death Cross occurring between the 100 EMA and 200 EMA.

SOURCE: TradingView

Further confirmation was also given by the ADX indicator with the presence of a cross between the two DI lines where the DI- the line moved above the DI+ line.

SOURCE: TradingView

Not to forget, the RSI indicator shows that there is an oversold phase in the XRP/USD market, we can prove this by moving the RSI line below the Lower Band which is the lower limit of the RSI indicator.

Disclaimer: