XRPUSDT Prices in Neutral RangeHello there,
The XRPUSDT price has been oscillating within a defined range, with a single daily candle exhibiting a bearish bias. This candle, which appears bearish on the RSI, also shows a bearish trend in the 2-hour time frame, potentially indicating a price drop to 0.5116. However, this projection is unclear.
A closer examination of the quasi-modo demand zone schematic suggests a potential rise in the price. Additionally, the overall chart pin bars indicate that the price could turn very bullish. Several bullish signs are present, including the Wolfe, Elliot Wave 5, and ABC patterns. Despite these indicators, the overall price structure is compressed, leading to a neutral assessment of the price chart.
Summary: the price is bearish for intraday trading, and neutral for swing trading.
Keep a watchful eye and monitor price levels.
Happy Trading,
K.