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XRP: USD/XRP (XRP=) Co-Founder Sold 160 million XRP This Month

$XRP #Ripple #Crypto #Cryptocurrencies #FX #Trading #Markets

XRP
Ticker: XRP=
Price: $0.5648

XRP Outlook

Ripple co-founder Jed McCaleb has sold 157.9 million XRP ($86.8 million as of press time) on the open market from December 1st to December 9th. McCaleb’s latest sale took place this morning shortly after he received a 266.3 million XRP payment, in which he subsequently sold about 30 million XRP. After McCaleb sold his XRP this morning, the price of XRP fell by 6%.

Technical Indicators

Overall, the bias in prices is: Upwards.

Note: this chart shows extraordinary price action to the upside.

The projected upper bound is: 0.69.

The projected lower bound is: 0.44.

The projected closing price is: 0.57.

Candlesticks

A black body occurred (because prices closed lower than they opened).
During the past 10 bars, there have been 4 white candles and 6 black candles for a net of 2 black candles. During the past 50 bars, there have been 28 white candles and 22 black candles for a net of 6 white candles.

Momentum Indicators

Momentum is a general term used to describe the speed at which prices move over a given time period. Generally, changes in momentum tend to lead to changes in prices. This expert shows the current values of four popular momentum indicators.

Stochastic Oscillator

One method of interpreting the Stochastic Oscillator is looking for overbought areas (above 80) and oversold areas (below 20). The Stochastic Oscillator is 51.3013. This is not an overbought or oversold reading. The last signal was a sell 15 period(s) ago.

Relative Strength Index (RSI)

The RSI shows overbought (above 70) and oversold (below 30) areas. The current value of the RSI is 55.15. This is not a topping or bottoming area. A buy or sell signal is generated when the RSI moves out of an overbought/oversold area. The last signal was a sell 11 period(s) ago.

MACD

The Moving Average Convergence/Divergence indicator (MACD) gives signals when it crosses its 9 period signal line. The last signal was a sell 6 period(s) ago.

Rex Takasugi – TD Profile

FOREX XRP= closed down -0.033 at 0.560. Volume was 3% above average (neutral) and Bollinger Bands were 79% wider than normal.

Open    High     Low     Close      Volume
0.593   0.596    0.559   0.560      101,439
Technical Outlook
Short Term:        Neutral
Intermediate Term: Bullish
Long Term:         Bullish
Moving Averages: 10-period     50-period      200-period
Close:           0.59          0.39           0.27
Volatility:      96            152            94
Volume:          180,109       125,115        85,556

Short-term traders should pay closer attention to buy/sell arrows while intermediate/long-term traders should place greater emphasis on the Bullish or Bearish trend reflected in the lower ribbon.

Summary

FOREX XRP= is currently 106.3% above its 200-period moving average and is in an upward trend. Volatility is high as compared to the average volatility over the last 10 periods.

Our volume indicators reflect volume flowing into and out of XRP= at a relatively equal pace (neutral). Our trend forecasting oscillators are currently bullish on XRP= and have had this outlook for the last 30 periods. our momentum oscillator has set a new 14-period low while the security price has not. This is a bearish divergence.

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