The number sixth ranked cryptocurrency by market cap, XRP, is showing signs of a strengthening bullish trend according to a technical indicator designed to measure the underlying power behind price movements.\u00a0<\/p>\n
Historically, when a particular signal appears on the monthly timeframe, a breakout occurs and sends the coin soaring higher.\u00a0<\/p>\n
XRP is still stuck at the center of a legal battle with the SEC, but technicals are potentially pointing toward a positive outcome in the case. That is according the Average Directional Index, which shows a strengthening bullish trend on weekly timeframe.\u00a0<\/p>\n
The ADX was created by J. Welles Wilder, Jr. who also developed the Relative Strength Index, Parabolic SAR, and Average True Range. It was designed to gauge trend strength.\u00a0<\/p>\n
A reading above 20 indicates a growing trend, while a reading below the level suggests a lack of a clear trend. When readings reach 50 or higher, a trend is strong but possibly becoming overextended. XRP weekly charts are currently at 25 and marching higher.\u00a0<\/p>\n\n
The ADX uses two other indicators in its calculation: the positive directional indicator and negative directional indicator. If the +DI is above the -DI then the market is bullish and vice versa.\u00a0<\/p>\n
In the image above, the +DI is above the -DI highlighting that bulls are in control on the weekly timeframe. The same is true on monthly timeframes, yet the largest moves in XRP arrive when the +DI rises above the ADX itself.\u00a0<\/p>\n
The ADX takes both the -DI and +DI and combines them, then smoothes the results. As such, the stronger the +DI becomes, the more it influences the ADX to increase. Could a growing weekly trend and ADX help give the monthly +DI that it needs?<\/p>\n
If the monthly DI+ can spike above the ADX, #XRP<\/a> will have one hell of a run pic.twitter.com\/rzb4iTpvDK<\/a><\/p>\n \u2014 Tony \u201cThe Bull\u201d (@tonythebullBTC) June 14, 2023<\/a><\/p>","protected":false},"excerpt":{"rendered":" <\/p>\n The number sixth ranked cryptocurrency by market cap, XRP, is showing signs of a strengthening bullish trend according to a technical indicator designed to measure the underlying power behind price movements.\u00a0<\/p>\n Historically, when a particular signal appears on the monthly timeframe, a breakout occurs and sends the coin soaring higher.\u00a0<\/p>\n XRP is still stuck at the center of a legal battle with the SEC, but technicals are potentially pointing toward a positive outcome in the case. That is according the Average Directional Index, which shows a strengthening bullish trend on weekly timeframe.\u00a0<\/p>\n The ADX was created by J. Welles Wilder, Jr. who also developed the Relative Strength Index, Parabolic SAR, and Average True Range. It was designed to gauge trend strength.\u00a0<\/p>\n A reading above 20 indicates a growing trend, while a reading below the level suggests a lack of a clear trend. When readings reach 50 or higher, a trend is strong but possibly becoming overextended. XRP weekly charts are currently at 25 and marching higher.\u00a0<\/p>\n The ADX uses two other indicators in its calculation: the positive directional indicator and negative directional indicator. If the +DI is above the -DI then the market is bullish and vice versa.\u00a0<\/p>\n In the image above, the +DI is above the -DI highlighting that bulls are in control on the weekly timeframe. The same is true on monthly timeframes, yet the largest moves in XRP arrive when the +DI rises above the ADX itself.\u00a0<\/p>\n The ADX takes both the -DI and +DI and combines them, then smoothes the results. As such, the stronger the +DI becomes, the more it influences the ADX to increase. Could a growing weekly trend and ADX help give the monthly +DI that it needs?<\/p>\n If the monthly DI+ can spike above the ADX, #XRP<\/a> will have one hell of a run pic.twitter.com\/rzb4iTpvDK<\/a><\/p>\nXRP Trend Strength Rises Above Key Level As Bulls Get Bold<\/h2>\n
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