What do the Short-Term Technicals Predict for Ripio Credit Network (RCN) Monday?

Monday, July 18, 2022 05:52 PM | InvestorsObserver Analysts

InvestorsObserver gives Ripio Credit Network a strong short-term technical score of 77 from its analysis. The proprietary scoring system considers the token's trading history over the past month to determine the strength of its short-term technicals. RCN has currently traded better than 77% of tokens based on these metrics. Investors focused on healthy recent trading patterns should find the short-term technical ranking system more relevant when making investment decisions.

InvestorsObserver is giving Ripio Credit Network a 77 Short-Term Technical Rank. Find out what this means to you and get the rest of the rankings on Ripio Credit Network!

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Trading Analysis

RCN is currently $0.000856 (28.97%) above its 30-day low of $0.002955574 and -$0.000234 (-5.79%) below its 30-day high of $0.00404593. Additionally, RCN is above its average price of $0.003334693 over the past month of trading with its current price of $0.003811771. Overall, the recent trading history of Ripio Credit Network suggest that traders are currently bullish on the token. Ripio Credit Network's market cap of $1,937,922.36 is relatively low for a token. Ripio Credit Network's relatively low market value comes as it sits under $100 million while the top 100 cryptos remain above $1 billion in market cap and the top 500 sit above $100 million. Meanwhile, RCN's average volume is low with $180,374.54 worth of the token traded over an average 24 hour period. RCN's volume is relatively low as the most traded 100 cryptos typically have $100 million exchanged each day and smaller cryptos tend to sit under $5 million traded over 24 hours. Over the last 24 hours, RCN's volume is below its usual with $35,853.31 exchanged. Ripio Credit Network's subclass Decentralized Finance: DeFi, or decentrialized finance, Tokens are tokens that are created as an alternative to traditional financial institutions. These tokens are designed to alleviate the needs for brokers, exchanges, and/or banks by offering traditional financial products or services without the need for a central authority through the use of smart contracts.

Summary

Ripio Credit Network's price movement over the past month has led to a a strong short-term technical score due to recent trading giving more bullish signals for traders on the token's short-term movement. Click Here to get the full Report on Ripio Credit Network (RCN).