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Daily Analysis By FXGlory
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[QUOTE="FXGlory Ltd, post: 346115, member: 106971"] [URL='https://fxglory.com/2024/04/25/xrpusd-analysis-for-25-04-2024/'][B]XRPUSD analysis for 25.04.2024[/B][/URL] [B][ATTACH type="full" alt="XRPUSD.H4.Daily Analysis on 25.04.2024.jpg"]60778[/ATTACH] Time Zone: GMT +2 Time Frame: 4 Hours (H4) Fundamental Analysis:[/B] The XRPUSD analysis for the 4-hour chart on April 25, 2024, presents a consolidation phase following a recent uptrend, indicating a market indecision around the 38.2% Fibonacci retracement level. The price action features smaller body candles with pronounced wicks on both ends, suggesting a lack of clear direction. Key technical indicators reinforce this view, with the RSI near a neutral 45 and the MACD showing weak bullish momentum as it hovers close to the signal line. The Bollinger Bands suggest a slight bullish bias as the price trends just above the middle band. In terms of strategy, traders might adopt a wait-and-see approach, observing for a potential breakout above the 50% Fibonacci level to signify a continuation of the uptrend or a break below the 38.2% level to indicate a deeper retracement. Both the ongoing legal issues involving Ripple and broader market sentiment should be considered as they could significantly impact XRP's price movements. This analysis advises caution and emphasizes the importance of monitoring both technical signals and fundamental news flows to make informed trading decisions. [B]Disclaimer[/B]: The analysis provided is for informational purposes only and should not be considered as investment advice. Market participants should conduct their independent research and exercise caution when trading in volatile markets. [B]FxGlory 25.04.2024 [ATTACH type="full" width="959px"]60781[/ATTACH][/B] [/QUOTE]
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