Altcoin TA: XRP and CRO
Neither this post nor any other on cryptofal.com should be taken as financial advice. It is not.
XRP weekly candle chart, 2/25/22.
XRP has been in a long-term consolidation pattern on the weekly chart that’s lasted most of 2021 and into this year. After the new year, the long-term support that’s held since the end of 2020 was finally broken however, shorter-term support was found and held. This is an area of support that’s been a factor since early last year.
The MFI is still bordering oversold territory, and the MACD looks like it could be preparing to swing upwards. Of course, it should be noted that volatility from broader crypto markets and global markets could continue to affect its price action.
CRO 4-hour candle chart, 2/25/22.
On a shorter-term time frame, CRO has been moving with a lot of the rest of the cryptocurrency market, after testing and holding lower support for a second time.
The MFI is trending upwards and so is the MACD after breaking short-term resistance. Just like the rest of the crypto market, CRO’s price action could be influenced by volatility in the broader crypto space and global markets.
