XRPUSD - Money Flow and Accum/Dist
Updated
Money Flow and Accum/Dist are Indicators that are imo best used on higher time frames (monthly, weekly, daily) to spot reversal signs of the price trend. Slow and lagging, but clear.
XRP provides some very interresting patterns on the weekly chart on both indicators for weeks now.
Money Flow had a clear bullish divergence that played out nicely.
Accum/Dist, oh boy... since Jan 2018 to ~18. Nov 2019 there was clear distribution in a bear market.
Then, from ~24. Nov 2019 to ~31. Dec 2019 the price hit a new lower low, but accumulation started in a small but clear bullish divergence. (red circles)
And then, boom. Accumulation is busting through the roof, surpassing all lower highs (blue lines) that the price bounces formed during the distribution. It is nearly as high as the ATH from 1. Jan 2018.
The price though is right now at the third touch of a clear declining trendline. Imo if XRP can break this trendline with volume then the price is free of the grip of the distribution from the last parabolic ATH and a new bullish trend and price discovery can start. So imo very, very crucial days/weeks ahead for this digital asset.
XRP provides some very interresting patterns on the weekly chart on both indicators for weeks now.
Money Flow had a clear bullish divergence that played out nicely.
Accum/Dist, oh boy... since Jan 2018 to ~18. Nov 2019 there was clear distribution in a bear market.
Then, from ~24. Nov 2019 to ~31. Dec 2019 the price hit a new lower low, but accumulation started in a small but clear bullish divergence. (red circles)
And then, boom. Accumulation is busting through the roof, surpassing all lower highs (blue lines) that the price bounces formed during the distribution. It is nearly as high as the ATH from 1. Jan 2018.
The price though is right now at the third touch of a clear declining trendline. Imo if XRP can break this trendline with volume then the price is free of the grip of the distribution from the last parabolic ATH and a new bullish trend and price discovery can start. So imo very, very crucial days/weeks ahead for this digital asset.
Note
The monthly chart does not show us a big surge in accumulation, BUT it is already above (green line) the last lower high on ~1. Oct 2019 (blue line).Money Flow though is more interesting on the montly chart because it had a clear bullish divergence for 10 months!
Note
As one can expect, the diagonal bearish trendline is strong resistance as shown on the daily chart below. It can be noted that the EMA 200 is turning up again, which last happened on the 14. May 2019 price move. Current price movement may want to test it as support.Still crucial times for XRP. Either break up, or otherweise maybe back down testing the lower trendline with a new lower low. But I don't ecpect it and I think we are in an early bull market.
Note
Note
Breakout from diagonal bearish trendline. Now testing the important horizontal resistance at ~$0.33. Next resistances after that imo ~$0.37 and ~$0.47.Money Flow and Accum/Dist going up like crazy.
Note
Resistance at ~$0.33 was strong and the market needed a break, so back down. Price just retested this shorter trendline on the LOG-chart. (shorter diagonal lines on LOG are ok.)Also, there is a huge weekly divergence on On-Balance Volume that has not played out jet, imo.
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