By Dmitriy Gurkovskiy, author at RoboForex Blog
The post XRP Price Analysis for April 21th – XRP Looks Ambiguous appeared first on The Merkle News.
The post appeared first on The Merkle
By Dmitriy Gurkovskiy, author at RoboForex Blog
The post XRP Price Analysis for April 21th – XRP Looks Ambiguous appeared first on The Merkle News.
The post appeared first on The Merkle
On Tuesday, April 21st, the XRP cryptocurrency looks dubious, slightly growing in price. It is generally trading at 0.1836 USD.
On D1, the technical picture is typical for the whole crypto market. The price is consolidating between 38.2% и 23.6% Fibo, which may mean that the price may be accumulating momentum for further growth. On the MACD, there is a Golden Cross forming, and the histogram has reached positive values. These signals mean that the growth will continue soon, aiming at 50.0% Fibo and 0.2320 USD.
On H4, the picture is similar. The asset is trading at the lower border of the ascending channel. A bounce looks more probable than a breakaway of the support line. The aims of the uptrend are the same as on D1 – 0.2320 USD. The Stochastic does not give any signals for now. It is not excluded that, after a decline to 20, it will form a signal for further growth. However, the overall situation with XRP/USD may develop in a decline to 1.1710 USD.
In the last couple of years, the XRP felt not too well; however, if you had bought this coin for 1,000 USD 6 years ago, your capital would now have amounted to 67,000 USD. This is a classical illustration of a possible profit. However, it is obvious that even if the trader kept buying the cryptocurrency after that, they would keep receiving a profit from investments. According to the investor named Credible Crypto, regardless of low productivity, the XRP still looks better than the BTC for long-term investments.
Meanwhile, most investors agree that right now the long-term trend for the XRP is not bullish but vice versa, quite gloomy. It again proves that there is no perfect instrument for investments, and logically, all investments must be diversified.
Remember that the whole of 2019 and the first months of 2020 have been difficult for the XRP. Last year, the cryptocurrency lost over 40% of its price, and currently, it is trading below the levels of the beginning of the year. This weakness is simply the result of the situation when the XRP lost momentum.
Disclaimer: Any predictions contained herein are based on the authors’ particular opinion. This analysis shall not be treated as trading advice. RoboForex shall not be held liable for the results of the trades arising from relying upon trading recommendations and reviews contained herein.