✨ XRP TECHNICAL ANALYSIS JULY 21 ✨
✨ Some important points will be made today and we will definitely be going over TA so don't fret, and as always thanks for tuning in. ladies and gentlemen.
✨ Let's quickly check out this Technical Analysis. Below is the 15 minute chart which we will refer to first and here is the chart image:
✨ Ta wise we can see how XRP slipped down within that descending channel going through our horizontal levels even breaking down below 0.77 but we did get a quick recovery there following the steep fall when volume increased signaling that buyers/institutions are still willing to buy above 0.76 which is good to note.
✨ It's good to note that as we saw a lot of buying at 0.76 and above so should we ever approach that level again or slip below it definitely expect some sell-off's as the traders/institutions that entered in at that position will want to close those same positions if it ever looks like price action may fall below, so very good to mark down and keep mind of, and it's thanks to volume we can identify that.
✨ I've also added this support line that seems to have formed so good to note as well. Below is gonna be our 5 minute chart then:
✨ With the 5 minute we can identify just exactly where that recovery happened displaying the quick breakdown before promptly being bought back up pulling us above 0.77 and through our levels even regaining that 200 EMA. I've encircled some pivot points to help visual readers but right now we'll have to see whether or not we can sustain price action above the 200 EMA or if we'll simply lose it again. What matters is that we recovered to sustain a price above 0.77.
✨ Target for today will be to break back above that 0.786 level which has proven to be a pivot level as I've encircled/highlighted for you guys. We need to break above that and form support mainly so that we don't lose our 200. But if we can't do that refer to the support line I've added and should that break we'll likely retest 0.77 though that's not the hope of course. But please refer to the horizontal levels, thank you.
✨ Before I end this off, I will be writing an idea right after this pertaining to buying and selling XRP and whether or not you should or shouldn't so please give that a read as well, thank you and as always feel free to leave a like or follow, simply helps me out. And as a heads up, I likely won't post on the 23rd as it'll be my Birthday so if you don't see any posts just be aware of that, thank you and all the best.
~ Rock '
✨ Let's quickly check out this Technical Analysis. Below is the 15 minute chart which we will refer to first and here is the chart image:
✨ Ta wise we can see how XRP slipped down within that descending channel going through our horizontal levels even breaking down below 0.77 but we did get a quick recovery there following the steep fall when volume increased signaling that buyers/institutions are still willing to buy above 0.76 which is good to note.
✨ It's good to note that as we saw a lot of buying at 0.76 and above so should we ever approach that level again or slip below it definitely expect some sell-off's as the traders/institutions that entered in at that position will want to close those same positions if it ever looks like price action may fall below, so very good to mark down and keep mind of, and it's thanks to volume we can identify that.
✨ I've also added this support line that seems to have formed so good to note as well. Below is gonna be our 5 minute chart then:
✨ With the 5 minute we can identify just exactly where that recovery happened displaying the quick breakdown before promptly being bought back up pulling us above 0.77 and through our levels even regaining that 200 EMA. I've encircled some pivot points to help visual readers but right now we'll have to see whether or not we can sustain price action above the 200 EMA or if we'll simply lose it again. What matters is that we recovered to sustain a price above 0.77.
✨ Target for today will be to break back above that 0.786 level which has proven to be a pivot level as I've encircled/highlighted for you guys. We need to break above that and form support mainly so that we don't lose our 200. But if we can't do that refer to the support line I've added and should that break we'll likely retest 0.77 though that's not the hope of course. But please refer to the horizontal levels, thank you.
✨ Before I end this off, I will be writing an idea right after this pertaining to buying and selling XRP and whether or not you should or shouldn't so please give that a read as well, thank you and as always feel free to leave a like or follow, simply helps me out. And as a heads up, I likely won't post on the 23rd as it'll be my Birthday so if you don't see any posts just be aware of that, thank you and all the best.
~ Rock '
Related publications
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.