{"id":324391,"date":"2021-08-14T16:45:18","date_gmt":"2021-08-14T13:45:18","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/xrp-chart-triggers-sell-off-warning-after-price-explodes-by-54-in-one-week\/"},"modified":"2021-08-14T16:45:18","modified_gmt":"2021-08-14T13:45:18","slug":"xrp-chart-triggers-sell-off-warning-after-price-explodes-by-54-in-one-week","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/xrp-chart-triggers-sell-off-warning-after-price-explodes-by-54-in-one-week\/","title":{"rendered":"# XRP chart triggers sell-off warning after price explodes by 54% in one week"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3ba983c0916\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3ba983c0916\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/xrp-chart-triggers-sell-off-warning-after-price-explodes-by-54-in-one-week\/#XRP_overbought\" >XRP overbought<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/xrp-chart-triggers-sell-off-warning-after-price-explodes-by-54-in-one-week\/#Additional_gains_anticipated\" >Additional gains anticipated<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># XRP chart triggers sell-off warning after price explodes by 54% in one week  <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>XRP price\u00a0almost surged to its three-month high following a strong uptrend continuation on Aug. 14. Nevertheless, its wild weekly run-up triggered overvaluation risks, thus raising possibilities of an imminent price pullback.<\/p>\n<p>In detail, the XRP\/USD exchange popped 11.78% higher to reach $1.20 for the first time since May 22. The pair&#8217;s gains <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>eared as a part of a prevailing bullish trend that started July 20 when it was trading for as low as $0.154\u2014a 134% upside retracement on the whole.<\/p>\n<p>On a week-to-date timeframe, the XRP\/USD rates were up circa 54%.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"XRP_overbought\"><\/span>XRP overbought<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The latest bullish moves in the XRP market prompted two classic indicators to forecast imminent price corrections.<\/p>\n<p>The first indicator is the <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fidelity.com\/learning-center\/trading-investing\/technical-analysis\/technical-indicator-guide\/RSI\">relative strength indicator<\/a> (RSI). It represents a magnitude of price changes to evaluate overbought or oversold conditions.\u00a0In detail, the RSI oscillates between zero and 100, with a reading above 70 showing overbought and a reading below 30 showing oversold conditions.<\/p>\n<p>If the asset&#8217;s RSI stays above 70, it typically prompts traders to sell it at higher prices to secure maximum available profits. Similarly, if the RSI dips below 30, it creates opportunities for traders to buy the asset at a seemingly lower rate.<\/p>\n<p>The XRP\/USD&#8217;s daily RSI triggered warnings of excessive valuations after its readings crossed above 70. As a result, the pair experienced a modest sell-off near its local high of $1.20, dipping to $1.14 at the press time.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/b26c6633-86e8-4d5a-816e-9489e0c5ff68.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>XRP\/USD daily price chart featuring RSI indicator. Source: TradingView.com<\/em><\/figcaption><\/figure>\n<p>The second indicator is <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.fidelity.com\/learning-center\/trading-investing\/technical-analysis\/technical-indicator-guide\/bollinger-bands\">Bollinger Bands<\/a>. <\/p>\n<p>They are\u00a0envelopes plotted at a standard deviation level above and below the price&#8217;s simple moving average. They tend to measure an asset&#8217;s volatility based on the distance between the upper and lower band. When the price moves out of the band, it tends to im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely move back inside the band area.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/d8634c71-9d19-4236-a912-354a87aaae8f.png\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>XRP\/USD daily price chart featuring Bollinger Bands indicator. Source: TradingView.com<\/em><\/figcaption><\/figure>\n<p>XRP\/USD&#8217;s latest volatile move upside pushed its rates outside the upper band resistance, signaling overvaluation. As a result, its probability of correcting back below the upper band level appears high, which may later follow up with an extended move towards the 20-day simple moving average (orange wave) near $0.80.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Additional_gains_anticipated\"><\/span>Additional gains anticipated<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Despite overvaluation risks, other traders believe XRP is poised to continue its bull run. For instance, independent market analyst DonAlt <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/CryptoDonAlt\/status\/1426456581055647744\">thinks<\/a> XRP could sprint towards its all-time high merely because it has broken above a so-called resistance area, as shown in the chart below.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-08\/fad7c876-1411-45d1-bfa4-390d923204ca.jpeg\" alt=\"\" title=\"\"><figcaption style=\"text-align: center;\"><em>XRP\/USD daily chart BitFinex. Source: TradingView.com, DonAlt<\/em><\/figcaption><\/figure>\n<p>&#8220;Close above red ($1) this week and I don&#8217;t see a reason for XRP to not make new ATHs,&#8221; the analyst said, adding:<\/p>\n<blockquote><p>&#8220;But, at the same time, if it ATHS the end of the run is near.&#8221;<\/p><\/blockquote>\n<p>Kevin Cage, another popular chart analyst, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/Kevin_Cage_\/status\/1426255990131994635\">added a dose of fundamentals<\/a> to the bullish outlook, noting that XRP at its all-time high would mean that Ripple has reached a settlement with the United States Securities and Exchange Commission (SEC).<\/p>\n<p>The U.S. securities regulator filed a lawsuit against Ripple in December 2020, alleging that the latter engaged in this illegal securities offering via the sale of XRP tokens in 2013 and afterward. Ripple denied the allegations.<\/p>\n<p><strong><em>Related:\u00a0SEC wants \u2018terabytes\u2019 of Slack communications from Ripple<\/em><\/strong><\/p>\n<p>On Aug. 16, Ripple will respond to the motion filed by the SEC for the discovery of &#8220;terabytes&#8221; of Slack communication data. The documents, if filed, may shed more light on whether or not Ripple sold XRP to its investors as securities.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\"><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/XRPCommunity?src=hash&amp;ref_src=twsrc%5Etfw\">#XRPCommunity<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/SECGov?src=hash&amp;ref_src=twsrc%5Etfw\">#SECGov<\/a> v. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Ripple?src=hash&amp;ref_src=twsrc%5Etfw\">#Ripple<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/XRP?src=hash&amp;ref_src=twsrc%5Etfw\">#XRP<\/a> Below is a summary of upcoming events and outstanding items. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/u8I9zYb8eD\">pic.twitter.com\/u8I9zYb8eD<\/a><\/p>\n<p>\u2014 James K. Filan  (@FilanLaw) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/FilanLaw\/status\/1425897465312595968?ref_src=twsrc%5Etfw\">August 12, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/xrp-chart-triggers-sell-off-warning-after-price-explodes-by-54-in-one-week\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# XRP chart triggers sell-off warning after price explodes by 54% in one week &#8221; XRP price\u00a0almost surged to its three-month high following a strong uptrend continuation on Aug. 14. Nevertheless, its wild weekly run-up triggered overvaluation risks, thus raising possibilities of an imminent price pullback. In detail, the XRP\/USD exchange popped 11.78% higher to&#8230;<\/p>\n","protected":false},"author":1,"featured_media":324392,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDgvMGEzMDUwODUtNGRjNi00ODFhLTg5YjYtZjgxM2ZlNmQxN2U3LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[79806,74858,74939,75150,75034,74898,78261,75557,73785],"class_list":["post-324391","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-analysis","tag-bitcoin-regulation","tag-market-analysis","tag-market-update","tag-ripple","tag-sec","tag-tech-analysis","tag-xrp","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/324391","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=324391"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/324391\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/324392"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=324391"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=324391"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=324391"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}