Ripple: Equilibrium, break coming!
Updated
Hello my dear Ripple traders!
XRP/USD is currently in a nice equilibrium between the ranges of 30 & 32 cents on the 4H. A break to the downside would give potential to previous summer lows of 27 & 25 cents respectively. A break to the upside could lead to 34 cents minimum. On the Daily, we're completely rejecting still from 12 EMA, and would have to make both 12 & 26 EMA to support to see any prolonged bull momentum.
XRP/BTC in the direct correlation to Bitcoin is trying to break the Daily lower highs at the .91-.92 range. If they fail to do so, they can build a higher low, and try again, there is room on the Daily. If they top out at .91, .85 will be crucial support. Caution: XRP/BTC strength does not automatically mean that XRP/USD will be strong: It just means relative strength compared to Bitcoin. E.g. if Bitcoin crushes further down, it means that Ripple crushes less. If Bitcoin breaks higher, it means XRP breaks higher even more.
Wish you a good trading! ;)
If you had some value, give it a thumbs-up, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :) No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally in 2013.
XRP/USD is currently in a nice equilibrium between the ranges of 30 & 32 cents on the 4H. A break to the downside would give potential to previous summer lows of 27 & 25 cents respectively. A break to the upside could lead to 34 cents minimum. On the Daily, we're completely rejecting still from 12 EMA, and would have to make both 12 & 26 EMA to support to see any prolonged bull momentum.
XRP/BTC in the direct correlation to Bitcoin is trying to break the Daily lower highs at the .91-.92 range. If they fail to do so, they can build a higher low, and try again, there is room on the Daily. If they top out at .91, .85 will be crucial support. Caution: XRP/BTC strength does not automatically mean that XRP/USD will be strong: It just means relative strength compared to Bitcoin. E.g. if Bitcoin crushes further down, it means that Ripple crushes less. If Bitcoin breaks higher, it means XRP breaks higher even more.
Wish you a good trading! ;)
If you had some value, give it a thumbs-up, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :) No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally in 2013.
Note
Caution if you're watching to play XRP/USD short right now: The bottom of 30 cents is not broken yet. 30 cent is just the psychological number. We have wicks going up to 0.297 and even .294 => This is very normal. You always wanna set your trigger accordingly, in order to not get faked out.Note
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