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XRP rides the bulls for now, but a bear attack seem inevitable

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With a circulating supply of 42,932,866,967 XRP and a market cap of $10,995,406,740 at press time, XRP is just recovering from revisiting its lowest value in quite some time.

Looking at the 1 hour chart for XRP, a diamond pattern alongside the MACD indicator suggests a short period of stabilization moving into an upwards breakout for a bullish trend. After the breakout from the diamond pattern, it is likely to continue oscillating within the symmetrical triangle, with an equal chance of either upwards or downwards trending breakout.

The 1 day chart however, shows that the overall trend seems to be bearish. The RSI indicator is consistent with this prediction.

XRP seems to be settling into a semi-consistent value around $0.25 for now, with a degree of devaluation in store for the near future.

Charts: TradingView


Chayanika is a full-time cryptocurrency journalist at AMBCrypto. A graduate in Political Science and Journalism, her writing is centered around regulation and policy-making regarding the cryptocurrency sector.
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