XRP Surprisingly Stronger Than Most Cryptos

December 16, 2019 1:17 PM UTC

While XRP has been weaker for the most part, recently, the daily chart has been showing some strength in comparison to Bitcoin and others. For instance, the daily equilibrium pattern is still in play for XRP while most of the others have broken bearish, although they didn’t get any continuation.

The daily equilibrium was held by really just a thread and the 24h trading volume has been extremely low. Yesterday’s 24h volume was the lowest volume since March 2019 and today’s volume is not looking any better. This is a huge indicator of what’s coming, however, XRP might still trade in this low volatile environment for a few more days before a breakout.

Currently, the bears have the advantage as they are closer to a bear break but they are definitely lacking strength. The 4-hour chart is in a clear downtrend since December 8 and the bulls are nowhere near close to changing the trend.

The weekly bear flag is perhaps still there and a breakout here is also imminent. The RSI continues to be low but not overextended and the 12-period EMA remains way higher at $0.248. The bulls need a lot of work to be able to change the weekly trend as the high remains all the way up at $0.315.

The monthly chart is one of the weakest among all major cryptocurrencies as it is in an extended downtrend and the bulls would need many months of hard work in order to change the trend.

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