XRPUSD Preparing for Rally
After breaking above its huge bull flag, XRPUSD was consolidating by forming another flag and might trigger another rally soon (as long as it won't return to the giant flag below, in that case we can see another drop towards S3)
Why I have a positive attitude towards XRP?
1) There was a huge drop from its previous high, XRP is now relatively cheap. Cheap assets mostly prefer upward scenarios
2) Stoch RSI is about to turn
3) Candlestick patterns look promising
4) RSI has enough space to support a rally
If 50 day EMA also cross with 100 day EMA and turn upwards, it also may greatly support XRP's rally. But first the small flag formation must hold .
Note that volumes are not supporting any kind of a big move, not yet.
Why I have a positive attitude towards XRP?
1) There was a huge drop from its previous high, XRP is now relatively cheap. Cheap assets mostly prefer upward scenarios
2) Stoch RSI is about to turn
3) Candlestick patterns look promising
4) RSI has enough space to support a rally
If 50 day EMA also cross with 100 day EMA and turn upwards, it also may greatly support XRP's rally. But first the small flag formation must hold .
Note that volumes are not supporting any kind of a big move, not yet.
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