Ripple price failed to move higher and declined against the US Dollar, forming a Three Black Crows bearish reversal candlestick pattern in the 1M timeframe. Here is the 26-28 March Ripple Technical Prediction.
26 March, AtoZForex – The Ripple or XRPUSD is trading at $ 0.60 down 6.30% at the time of writing. The third largest cryptocurrency in terms of the market cap now has a market cap of around $23 Billion. In the last 1 Week, the price has moved by $ -0.05 (-8.16%) with a total volume of over $ 421.53 Million. The highest price, $ 0.7249, was on Tuesday, 20 March 2018. The lowest price, $ 0.5816, was on Monday, 26 March 2018. Will the Ripple remains struggling in the bearish trend?
26-28 March Ripple Technical Prediction
The Three Black crows candlestick pattern has emerged in the 1M timeframe. Thus, the pattern signals the chance of bearish reversal with a high reliability in coming days. During an uptrend, three long black candles occur with consecutively lower closes. This pattern suggests that the market has been at a high price for too long, and investors are beginning to compensate for it. More significant if it appears after a mature advance.
According to Fibonacci retracement charts, the XRPUSD pair is trading below 23.6% Fibo retr. zone. Over the past few days, ripple failed to cross the major barrier near 38.2% Fibo. retr. zone and dropping constantly from that region.
But the technical indicators seem unfavorable for the XRPUSD pair now. Thus, the price might break the weekly support and might test $ 0.50- 0.54 in coming days.
The relative strength index(14) value is below 50 in weekly timeframe signals Sell.
The MACD(12,26) value is -0.023 gives Selling signal in weekly charts.
Moreover, according to ATR(14), the XRPUSD pair is Less volatile.
The Ripple has significant weekly support near US$ 0.53 level and resistance at US$ 0.72 level.
Ripple Weekly Pivot points
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