AtlantisFX | The cryptocurrency Ripple XRP (XRP / USD) fell on Wednesday. According to Investing.com, the digital currency last cost $ 0.4599, down 1.05 percent in the last 24 trading hours. Over the past 52 weeks, the cyber-devise has ranged from $ 0.246 to $ 0.8009
The following article deals with the technical analysis. The technical analysis, also called chart analysis, tries to determine attractive buy or sell times from the price history of the underlying asset - in this case for the crypto currency Ripple XRP (XRP / USD).
In this chart analysis, Investing.com editors rate both the 5-hour and daily ripple cryptocurrency charts based on moving averages and technical indicators. These results ultimately provide an overall technical rating for the digital currency.
Ripple XRP (XRP / USD) on the 5 hour chart
Moving averages: Moving averages smooth the course and make it easier to see the higher trend direction in the respective time window.
With regard to the cryptocurrency Ripple XRP (XRP / USD), there are 6 moving averages on "Buy" and 6 on "Sell". This gives the digital currency the rating "Neutral".
Technical indicators: Technical indicators focus on the analysis of historical price data using mathematical formulas and not on fundamental conditions. Technical indicators are used by profes- sional traders to forecast short-term price movements in order to determine buy or sell times. Examples of common technical indicators are Relative Strength Index, Stochastic, MACD, ATR, ADX, CCI, ROC Bulls / Bear.
Of the 9 technical indicators analyzed, 3 indicate "buy", 4 "neutral" and 2 "sell". Accordingly, the editors of Investing.com determined a "buy" rating.
By analyzing the moving averages and the technical indicators Investing.com comes in a 5-hour chart on a total result of "Neutral".
Ripple XRP (XRP / USD) on the daily chart
On the daily chart, 10 moving averages point to Buy and 2 to Sell. This gives the token a rating of "buy".
Of the 11 technical indicators analyzed, 10 indicate Buy, 1 Neutral, 0 Sell. From this a rating of "strong buy" can be derived.