XRP Shifted To “Strong Sell” On Real-Time TradingView Indicator
The crypto market looks better today, with the most important coins trading in the green.
At the moment of writing this article, XRP is trading in the green and the coin is priced at $0.193497.
Crypto market downward trajectory may continue
There’s a real-time analysis of the leading cryptos BTC, ETH and XRP and this suggests that the crypto market downward trajectory may continue.
The current overall technical rating for XRP on TradingView is now at a “strong sell.“
It’s been revealed that when broken down, both the daily and monthly timeframes are in the strong sell range while the 1 minute, 5 minutes, 15 minute and hourly ratings are all in the “sell” range.
According to the online publication the Daily Hodl, TradingView says its proprietary ratings system uses a combination of popular technical indicators which includes moving averages, oscillators and pivots to analyze where assets may be heading. Check out more details on the original article.
Bloomberg analyst is bullish on BTC
Bloomberg senior commodity strategist Mike McGlone says his team expects Bitcoin to rally in 2020.
“Bitcoin in 2020: $10,000 appears to be more likely than $5,000. Bitcoin should continue to advance in a consolidating bull market, in our view, with maturation of the first-born crypto in the next decade the primary distinction vs. the current one,” he said.
He continued and explained that the most important coin in the market is poised for a 2020 recovery that’s similar to 2019.
Bitcoin in 2020: $10,000 Appears to Be More Likely Than $5,000 —#Bitcoin should continue to advance in a consolidating bull market, in our view, with maturation of the first-born crypto in the next decade the primary distinction vs. the current one. pic.twitter.com/JxEAhArwTf
— Mike McGlone (@mikemcglone11) December 19, 2019
McGlone also mentioned that “Foundations for this year’s rallies in U.S. equities and crude oil were similarly built on plunges at the end of 2018.”
Despite the huge volatility of the crypto market, there have been a lot of optimistic crypto-related predictions popping up these days.
It’s also worth noting that the research arm of the crypto exchange BitMEX released a set of predictions for 2020. They say that BTC’s dominance will remain under 75%.
Eduard Watson Author
An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.