XRP Defies Chaos: Analysts Highlight Bullish Reversal as Markets Digest FOMC Volatility
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XRP analysts indicate potential bullish reversal signals with a recent weekly candle forming an inverted hammer at $1.94, seen as a strong reversal indicator. Additionally, both RSI and Stochastic RSI are in oversold territory, suggesting the recent sell-off might be ending. The FOMC's recent rate cut may also positively impact market sentiment.
- Crypto analyst Egrag Crypto noted that the weekly candle at $1.94 for XRP formed an inverted hammer
- Another analyst, ChartNerd, pointed out that the RSI compression and Stochastic RSI are in oversold territory
- FOMC delivered its final rate decision of this year on December 10, cutting the US federal funds rate by 25 basis points to a range of 3.50% to 3.75%
Several technical analysts on X are pointing to early signals that XRP’s price might be reversing. They suggest the recent sell-off could be ending, with a potential bottom forming that might lead to a short-term upward move.
Crypto analyst Egrag Crypto noted that weekly candle near $1.94 formed an inverted hammer, a pattern traders often treat as one of the strongest single candle bullish reversal signals when it prints after a clear downtrend.
Related: Should You Buy the Dip? Analyzing the Crypto Market Cra…
Read The Full Article XRP Defies Chaos: Analysts Highlight Bullish Reversal as Markets Digest FOMC Volatility On Coin Edition.
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XRP Defies Chaos: Analysts Highlight Bullish Reversal as Markets Digest FOMC Volatility
Share:
XRP analysts indicate potential bullish reversal signals with a recent weekly candle forming an inverted hammer at $1.94, seen as a strong reversal indicator. Additionally, both RSI and Stochastic RSI are in oversold territory, suggesting the recent sell-off might be ending. The FOMC's recent rate cut may also positively impact market sentiment.
- Crypto analyst Egrag Crypto noted that the weekly candle at $1.94 for XRP formed an inverted hammer
- Another analyst, ChartNerd, pointed out that the RSI compression and Stochastic RSI are in oversold territory
- FOMC delivered its final rate decision of this year on December 10, cutting the US federal funds rate by 25 basis points to a range of 3.50% to 3.75%
Several technical analysts on X are pointing to early signals that XRP’s price might be reversing. They suggest the recent sell-off could be ending, with a potential bottom forming that might lead to a short-term upward move.
Crypto analyst Egrag Crypto noted that weekly candle near $1.94 formed an inverted hammer, a pattern traders often treat as one of the strongest single candle bullish reversal signals when it prints after a clear downtrend.
Related: Should You Buy the Dip? Analyzing the Crypto Market Cra…
Read The Full Article XRP Defies Chaos: Analysts Highlight Bullish Reversal as Markets Digest FOMC Volatility On Coin Edition.
Read More
XRP Price Prediction: XRP Faces Renewed Downside Risk Despite Sharp Relief Bounce