Hi All,
This is how I see
XRPUSD breaking down in the next few weeks.
Although we broke out of the downward trend, we are still under the 200 sma on a 4 hour chart. The overall impact of
BTCUSD is bringing the overall crypto market down as shown in my previous chart.
The MACD and the RSI also show a downward trend which I believe will provide a buying opportunity in the 60-80 cent range. This is the same issue Litecoin has with a very similar pattern. I do believe that after this point, Litecoin and Ripple can go long for big gains so it's a good time to buy in the 60-80 cent range.
Let me know your thoughts and if I have missed something in my technical analysis.
Thanks,
B
This is how I see
XRPUSD breaking down in the next few weeks.Although we broke out of the downward trend, we are still under the 200 sma on a 4 hour chart. The overall impact of
BTCUSD is bringing the overall crypto market down as shown in my previous chart.The MACD and the RSI also show a downward trend which I believe will provide a buying opportunity in the 60-80 cent range. This is the same issue Litecoin has with a very similar pattern. I do believe that after this point, Litecoin and Ripple can go long for big gains so it's a good time to buy in the 60-80 cent range.
Let me know your thoughts and if I have missed something in my technical analysis.
Thanks,
B
Note
I still see downward pressures from the 20 day EMA and the 50 day SMA. We will be forming a "death cross" in 5 days if the trend stays steady.
The death cross being the cross over of the 50 day SMA and the 100 day SMA.
Note
XRP is still in consolidation (blue square). I like Ripple as a company but the fact that their partners won't/don't use the actual Ripple coin is disappointing and so any good news doesn't affect the price of XRP. I expect that this will follow BTCUSD as a trend for a while.Note
XRP still testing the 90 cent support levels. It appeared there were some good gains but with every other coin lately, the volumes are much lower.Trade active
Volume has finally entered and has gained momentum. As per my original chart shows, the next resistance will be at $1.19.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.