Hi guys,
XRP is still finding stable support at $0.18, which is unbreakable since April 6. Also since then, the "ripple" is trading in the $0.18-$0.20 zone without being able to make a significant break to the upside or to the downside.
Volumes are quite low at the moment around $1.7 billion on 24h- base. The last time we saw such values combined with a loss of volatility was on April 4-5. That resulted in a huge green candle that filled the whole gap between the above-mentioned area. I'm looking for something similar here as the bear pressure is fading away now with 7 consecutive failed attempts to break below $0.18.
Additionally, we already have the 50-day EMA as an additional stabilization factor there.
On the bearish side of things, we are hitting up a short-term trendline coming down from April 8 three consecutive days already without being able to surpass it.
Also, there is the following situation on the 1h-chart that I don't like either.
Let's say I'm neutral here, but slightly bearish. :)
XRP is still finding stable support at $0.18, which is unbreakable since April 6. Also since then, the "ripple" is trading in the $0.18-$0.20 zone without being able to make a significant break to the upside or to the downside.
Volumes are quite low at the moment around $1.7 billion on 24h- base. The last time we saw such values combined with a loss of volatility was on April 4-5. That resulted in a huge green candle that filled the whole gap between the above-mentioned area. I'm looking for something similar here as the bear pressure is fading away now with 7 consecutive failed attempts to break below $0.18.
Additionally, we already have the 50-day EMA as an additional stabilization factor there.
On the bearish side of things, we are hitting up a short-term trendline coming down from April 8 three consecutive days already without being able to surpass it.
Also, there is the following situation on the 1h-chart that I don't like either.
Let's say I'm neutral here, but slightly bearish. :)
Note
XRPUSD moved above the short-term downtrend. Now let's see if it will be able to close above $0.20-$0.22 and surpass the horizontal S/R as well.
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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.