Price Analysis: XRP ADA, TON, and SOL Show Bearish Signals
- The death cross on the 4-hour chart indicated that XRP could fall to $0.50
- ADA lacked buying pressure but the golden ratio suggested a move to $0.47.
- TON’s price might fall to $5.50 while SOL could slip to the $161 support.
Many altcoins struggled to make significant gains in the last week of May. According to CoinMarketCap, Ripple (XRP), Cardano (ADA), Toncoin (TON), and Solana (SOL) all traded within tight ranges.
In this analysis, Coin Edition examines the near-term price potential of these cryptocurrencies as the market continues its sideways movement.
XRP Price Analysis
XRP’s price was $0.52 at press time. A look at the Money Flow Index (MFI) on the 4-hour chart showed a reading below the midpoint, indicating capital has flowed out of the XRP market. This suggests upward price movement could be challenging in the short term.
Beyond that, the Exponential Moving Average (EMA) flashed a similar signal. As of this writing, the 50 EMA (yellow) had crossed over the 20 EMA (blue)— a death cross, indicating a bearish trend.
XRP/USD 4-Hour Chart (Source: TradingView)
In addition, XRP was trading below both EMAs, suggesting that the token co…
The post Price Analysis: XRP ADA, TON, and SOL Show Bearish Signals appeared first on Coin Edition.
Read More
Price Analysis: XRP ADA, TON, and SOL Show Bearish Signals
- The death cross on the 4-hour chart indicated that XRP could fall to $0.50
- ADA lacked buying pressure but the golden ratio suggested a move to $0.47.
- TON’s price might fall to $5.50 while SOL could slip to the $161 support.
Many altcoins struggled to make significant gains in the last week of May. According to CoinMarketCap, Ripple (XRP), Cardano (ADA), Toncoin (TON), and Solana (SOL) all traded within tight ranges.
In this analysis, Coin Edition examines the near-term price potential of these cryptocurrencies as the market continues its sideways movement.
XRP Price Analysis
XRP’s price was $0.52 at press time. A look at the Money Flow Index (MFI) on the 4-hour chart showed a reading below the midpoint, indicating capital has flowed out of the XRP market. This suggests upward price movement could be challenging in the short term.
Beyond that, the Exponential Moving Average (EMA) flashed a similar signal. As of this writing, the 50 EMA (yellow) had crossed over the 20 EMA (blue)— a death cross, indicating a bearish trend.
XRP/USD 4-Hour Chart (Source: TradingView)
In addition, XRP was trading below both EMAs, suggesting that the token co…
The post Price Analysis: XRP ADA, TON, and SOL Show Bearish Signals appeared first on Coin Edition.
Read More