XRPUSD ends the day on a bearish note closing near the low of the day
Ripple/US Dollar Index (XRPUSD) Technical Analysis Report for Aug 11, 2018 | by Techniquant Editorial Team
Moving lower for the 2nd day in a row, XRPUSD finished Saturday at 0.2914 losing $0.0263 (-8.28%). Today's closing price of 0.2914 marks the lowest close since December 11, 2017. The bears were in full control today, moving the market lower throughout the whole session. Closing below Friday's low at 0.3128, the market confirms its breakout through the previous session's low having traded $0.0246 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Daily Candlestick Chart (XRPUSD as at Aug 11, 2018):
Saturday's trading range was $0.0314 (9.85%), that's above last trading month's daily average range of $0.0245. Weekly volatility is also higher, being way above the markets average with the monthly volatility being slightly above average.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
With six out of the other six Major Cryptocurrencies closing lower today, the ones that stand out on the negative side are ETCUSD losing -7.72% and ETHUSD closing -6.98% lower. None of the markets managed to end the day in the green. Looking at the Minor Cryptocurrencies, the winners of the day have been BTCCNY surging 5.28% and WAVESBTC closing 1.9% higher. The worst performers of the day have been ELFBTC tanking -13.38% and IOTBTC closing -11.22% lower. Read more