XRP Technical Analysis:3 Things You Must KnowConclusion for today's Ripple Analysis: A close above ~$0.41 implies more bullish action in XRPUSD.
XRP technical analysis for today is carried out on the Daily timeframe using a log scale. Chart patterns are examined, as well as the 200 day moving average plotted to help in providing guidance for future price development.
Three (3) key points to keep in mind moving forward into the week of October 27, 2019 are the following:
(1) Bearish trendline: Peaks in XRPUSD on April 23, 2019, September 21, 2019 and June 22, 2019 are used to draw its bearish trendline that provides a point of reference for price and also context. A close above the bearish trendline can be employed as part of a very conservative strategy to enter long (buy) trades.
(2) 200 Day moving average: This also provides additional evidence for the current bearish swing in the price of Ripple (XRPUSD). The slope of the moving average flattening out (i.e. zero) implies indecision, and therefore requires monitoring for future development of price action.
A change from zero to positive slope is evidence of renewal of bullish strength in Ripple.
Therefore, price closing above the moving average is a good sign for continuation of bullish strength with the next challenge anticipated at the bearish trendline.
(3) Bottoming price action in XRP: August 15, 2019 and September 24, 2019 saw XRP fail to follow through with its bearish momentum and a lack of price close below ~0.22. The most recent test close to the 0.22 price level occurred on October 23, 2019 with price eventually resolving to the upside. A bullish swing in price is therefore implied, while price closing below ~0.24 diminishes the chances of higher prices.
Rippleanalysis
XRPUSD (Ripple) At Support At the same time that Bitcoin just hitted a huge support lever XRPUSD is also at a triple bottom support level,
we might see XRP recover quite a bit after confirming that its actually going to go up, dont just jump in lets wait for the confirmation.
Check out my previous post on bitcoin where I described in full length how to look for the confirmation.
Be Patient...
xrp/btc is ready to go to moon! according to my analysis xrp/btc is will go up from this price because it is at strong support , descending channel broke , rsi super oversold , and got an engulfing candle so it may go to 61.8 level of fibonacci as shown above.
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XRP. Time to buy! 0.28-0.32$In previous ideas, I predicted the correction of this coin, after its growth on September 20th.
At the moment, it seems to me that the crypt market correction is over. If we analyze the volumes of this coin, it is clear that the volumes became worse after the breakthrough of $ 0.38 ( for this level I published the idea on November 14 ):
Therefore, I conclude that the current price zone is interesting for buyers.
On horizontal volumes it is clear that in this zone there was a good consolidation and interest:
0.32 $ is the lower limit of this liquidity zone. Also at this price is the global wave Y = W (if not take into account the shadow of September 20) or, Y = 0.618 * W (if this shadow is taken into account):
If you take the wave Y, and divide it into a, b, c. it turns out that in the price of 0.32 and 0.28 $ there are also strong levels:
Therefore, the wave analysis only confirms that in this range should begin at least a rebound to 0.38-0.4 $. At this point, buyers should show what they are capable of. If this forecast is implemented, then I'm creating a new idea about the prospect of growth.