🌊 XRP FACES THE WAVES 🌊
🌊 Nothing crazy for you guys but we do have some interesting stuff so feel free to read and thanks for tuning in as usual ladies and gentlemen.
🌊 Before I get started on XRP just want to point out the fact that the general market is rallying overall with the bullish sentiment that the FED won't raise hikes coming the FED meeting which will is due to start tomorrow. Whether or not that sentiment sticks will have to be seen tomorrow but that's just something to point out with the general market direction today looking bullish with investors and the market bullish.
🌊 Fed rate hikes will influence the market in general even including crypto's of course so definitely would advise keeping an eye open for that news. No rate hikes will help boost sentiment and likely buying pressure and a rate hike would invoke some fear, choppy trading so just to keep aware of.
🌊 I won't make today's idea too long but I will give some good stuff so let's just start off with this 15 minute chart I've added.
🌊 I've added a new rectangle to highlight that channel of consolidation between 0.688 and 0.71 being our resistance that we'll need to break to get another leg back up and regain that 200 EMA most likely. The FED rate will likely be a catalyst for whether or not we regain the 200 EMA or continue trading sideways so keep that in mind. And remember, these consolidation rectangles are important, just look at the last time we fell below the last rectangle I made on the main chart above, we lost that and fell, but just as much as it can do that to us, it can the very opposite and send us up so I highly recommend adding this to your own charts.
🌊 I've also added a new horizontal level mark at 0.688 being that we tested that 3 times now and XRP has managed to keep above that relatively well so far indicating some support at least, I've encircled two of those points and the third is about the same so we fall below this again for the 3rd time and I would most likely expect a fall of some sort at least.
🌊 Target for today and the new few days is just to break 0.71 and get some momentum back into going up, since we initially fell from 0.736 volume has been relatively low indicating a lack of confidence and more hesitation from traders, a break above 0.71 would likely be the sign the market needs to get back that confidence in XRP climbing back else we risk falling if we keep consolidating and fail to break that.
🌊 Feel free to add these markings to your charts, I'm sure they would help. My interest right now is the 20/50 EMA's. Since they split on the hourly chart they have yet to reconvene and meet up so I'm personally expecting that to change soon, especially with them not having met on the 15 minute chart so to see that happen would be positive thus keep note of that please.
🌊 That's it for today, like I said no long idea today, don't wanna scramble anyone's brains so thanks for tuning in, and feel free to leave a like or follow, comment below, means a lot as always and thank you guys for the ongoing support!
~ Rock '
🌊 Before I get started on XRP just want to point out the fact that the general market is rallying overall with the bullish sentiment that the FED won't raise hikes coming the FED meeting which will is due to start tomorrow. Whether or not that sentiment sticks will have to be seen tomorrow but that's just something to point out with the general market direction today looking bullish with investors and the market bullish.
🌊 Fed rate hikes will influence the market in general even including crypto's of course so definitely would advise keeping an eye open for that news. No rate hikes will help boost sentiment and likely buying pressure and a rate hike would invoke some fear, choppy trading so just to keep aware of.
🌊 I won't make today's idea too long but I will give some good stuff so let's just start off with this 15 minute chart I've added.
🌊 I've added a new rectangle to highlight that channel of consolidation between 0.688 and 0.71 being our resistance that we'll need to break to get another leg back up and regain that 200 EMA most likely. The FED rate will likely be a catalyst for whether or not we regain the 200 EMA or continue trading sideways so keep that in mind. And remember, these consolidation rectangles are important, just look at the last time we fell below the last rectangle I made on the main chart above, we lost that and fell, but just as much as it can do that to us, it can the very opposite and send us up so I highly recommend adding this to your own charts.
🌊 I've also added a new horizontal level mark at 0.688 being that we tested that 3 times now and XRP has managed to keep above that relatively well so far indicating some support at least, I've encircled two of those points and the third is about the same so we fall below this again for the 3rd time and I would most likely expect a fall of some sort at least.
🌊 Target for today and the new few days is just to break 0.71 and get some momentum back into going up, since we initially fell from 0.736 volume has been relatively low indicating a lack of confidence and more hesitation from traders, a break above 0.71 would likely be the sign the market needs to get back that confidence in XRP climbing back else we risk falling if we keep consolidating and fail to break that.
🌊 Feel free to add these markings to your charts, I'm sure they would help. My interest right now is the 20/50 EMA's. Since they split on the hourly chart they have yet to reconvene and meet up so I'm personally expecting that to change soon, especially with them not having met on the 15 minute chart so to see that happen would be positive thus keep note of that please.
🌊 That's it for today, like I said no long idea today, don't wanna scramble anyone's brains so thanks for tuning in, and feel free to leave a like or follow, comment below, means a lot as always and thank you guys for the ongoing support!
~ Rock '
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