[Technical Analysis] XRP/USD Market February 02, 2024 by wahyunahrul

hive-119463 · @wahyunahrul · Feb 2

$2.09

[Technical Analysis] XRP/USD Market February 02, 2024

## Hey Guys..!!
<p><div class="text-justify"><p>Meet again with me Wahyu Nahrul, This time I want to make a brief technical analysis of a cryptocurrency chart, the analysis I made is based on my experience and knowledge.</div>


<center>![rounded-in-photoretrica (49).png](https://cdn.steemitimages.com/DQmcZ5NWC5ErktZKY9K2DcVWk7nae9rCaBVSZzTJ1CN8u7x/rounded-in-photoretrica%20(49).png)</center><center><sub>***Made on PowerPoint***</sub></center>


Alright, let's get straight into the discussion, Happy reading!!


![Pembatas Utama.png](https://cdn.steemitimages.com/DQmUqV2VAknQE4ZTKUNQVk7dC6abcYzoN63AdevUPzmqmB4/Pembatas%20Utama.png)

# <center>Ripple (XRP) Analysis</center>


<center></center>

Today, February 02, 2024, I will try to analyze the price movement of Ripple technically.


<center>![Slide1.PNG](https://cdn.steemitimages.com/DQmdUqxHWSGecW6RnY5hhuSXhUteWCd2saYZKpTtPQ2r9Zr/Slide1.PNG)</center>
<center>*SOURCE: [TradingView](https://www.tradingview.com/)*</center>

If we look at the price movement of XRP in general, we can see that XRP is in a very deep bearish phase. We can see this in the XRP price movement pattern in the chart above where the candlestick tends to move downwards if we look closely.




<center>![Slide3.PNG](https://cdn.steemitimages.com/DQmexUrmfYKN464Dskn1twSYLVLKLiCev4bzULjPtt8nGNL/Slide3.PNG)</center>
<center>*SOURCE: [TradingView](https://www.tradingview.com/)*</center>

This is confirmed by the EMA Indicator with a Death Cross occurring between the 100 EMA and 200 EMA.




<center>![Slide4.PNG](https://cdn.steemitimages.com/DQmSWRUS35KjFyPSKKm7TJJmg9LHcJqAR7SVFV83BjynfyG/Slide4.PNG)</center>
<center>*SOURCE: [TradingView](https://www.tradingview.com/)*</center>

Further confirmation was also given by the ADX indicator with the presence of a cross between the two DI lines where the DI- the line moved above the DI+ line.





<center>![Slide5.PNG](https://cdn.steemitimages.com/DQmamhMHerU2sPvTpmhbggSdVJQDHxWtTQXpRjviT5B7oY8/Slide5.PNG)</center>
<center>*SOURCE: [TradingView](https://www.tradingview.com/)*</center>

Not to forget, the RSI indicator shows that there is an oversold phase in the XRP/USD market, we can prove this by moving the RSI line below the Lower Band which is the lower limit of the RSI indicator.






![Pembatas Sub.png](https://cdn.steemitimages.com/DQmUjUshtBLPP4fERXpS2DNJDvqExzURhrdzFSU4sNftjky/Pembatas%20Sub.png)


### <div class="phishy"><center>Disclaimer:</center></div>

<div class="phishy"><i>This analysis is not an invitation to buy or sell any asset, it is just a short analysis intended for learning. Remember! don't use the analysis I did as a benchmark in investing or trading, always do your analysis and research first before making any decisions.</i></div>

![Pembatas Sub.png](https://cdn.steemitimages.com/DQmUjUshtBLPP4fERXpS2DNJDvqExzURhrdzFSU4sNftjky/Pembatas%20Sub.png)

👍 justyy, ety001, dlike, ctime, ghasemkiani, jianan, angelik-a, wilfredn, acactus1013, jswit, simaroy, blues529, rosatravels, ericandryan, enchanter88, dongfengman, roky, haideremtiaz, happyukgo, witnesstools, cplusplus, ilovecoding, yuxuan, laiyuehta, dprogress, ethanlee, dailychina, xiaohui, superbing, dailystats, dailyfortune, steemfuckeos, justyy222, turtlegraphics, johnvin, woolfe19861008, anxin, justsoso, strong56, longhash, foodielifestyle, fanso, marianavila, lilypang22, wwaitl, zhengjuan7, serenazz, yettareade, sexybeach, kikima, basky14, chromebook, llfestyle, vincenthan, imagen, suckmydick, zasilla, heiduya, yalehazlitt, geosciman, arnav-ray, brodydung, splinterislands, deepcrypti8, and 7 others

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