XRP, VeChain, and WAVES Price Analysis: 24 May

ambcrypto.com:

As Bitcoin glided near its high liquidity range in the four-hour timeframe for the last 12 days, the market abstained from high volatility. The broader sentiment still lurked around the ‘extreme fear’ zone.

Thus, the near-term technicals of XRP, VeChain, and WAVES hovered in the bearish-neutral zone. The buyers still needed to inject volumes to gain enough thrust for exiting the tight phase.

Source: TradingView, XRP/USDT

The downswing from the 61.8% Fibonacci resistance propelled an over 37% five-day plummet. As a result, XRP fell toward its 15-month low on 12 May. Further, the Point of Control (POC, red) short-lived the recent buying endeavors by leading XRP into an extended squeeze phase near the $0.42-zone.

As the 20 EMA (red) refrained from jumping above the 50 EMA(cyan), the bears still substantially controlled the near-term trend. A close above the 23.6% level would now position the alt to test the 50 EMA before breaking out from the symmetrical triangle.

At press time, XRP traded at $0.409. The Relative Strength Index (RSI) steeply dropped toward the 38-mark base in the past day. Nevertheless, the CMF undertook a bullish divergence with the price. Thus, keeping up the chances of the buyers breaching the 23.6% level.

Source: TradingView, VET/USDT

In gearing up their efforts to amplify the selling pressure, the sellers provoked multiple rallies while keeping control of VET’s peaks for over a month. The altcoin lost over 73% (from 31 March) of its value and plunged toward its 15-month low on 12 May.

After consistent tries to find a spot above the EMA ribbons, buyers were able to finally test the $0.33-level above the ribbons. But the recent evening star candlesticks pulled VET below its 20 EMA yet again.

At press time, VET