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  • Ripple trades 2.6% higher on Friday but there are some bearish signs.
  • The sell-side volume is much higher than the buy-side.

XRP/USD 4-hour chart

Ripple trades higher today but there are some signals the bulls are not in full control. The second wave up was not able to test the wave high and subsequently, the price has now made a lower high wave. 

As you can see on the black circle on the volume indicator the volume really spiked higher when the market sold off from the highs. This could indicate the bears were looking for higher levels to fade the rally. Also, on the hourly chart, the sell off looks even more pronounced on the down candles.

Interestingly, at the moment the 55 exponential moving average is providing some support right now. The price is still holding above the 200 simple moving average and it seems too far for a test at the moment. Lastly, the relative strength index indicator has moved into a more depressed zone under the 50 mid-line. This could indicate there as still some more room in this correction to come. 

Ripple Price Analysis

Additional levels