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%.
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.
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 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.
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.
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.
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.