Get started

Xrpusdanalysis

Technical Analysis of XRP: Upside Potential and Downside RisksCurrent data indicates that the XRP price is struggling to start a steady rise above the $0.50 level. The price needs to settle above $0.50 and $0.510 to gain upward momentum in the near term. The XRP price has started a slight upward move from the $0.4765 area. It is now trading above $0.4850 and the 100-hour Simple Moving Average. There is a short-term rising channel forming with resistance at $0.500. Losses extended below $0.50 before buyers emerged, as the price tested the $0.4765 level and recently started a recovery wave. The price faces obstacles near the $0.4980 and $0.50 levels. The main resistance coincides with the 61.8% Fibonacci retracement level of the recent decline from $0.5105 to $0.4765. If the resistance at $0.50 is surpassed, the price could move towards the $0.510 level. The next resistance is near $0.520. Closing above the $0.520 resistance zone might push the price to the $0.5320 level, and if this level is exceeded, there could be a steady rise towards the $0.550 resistance. Any further gains might drive the price towards the $0.5650 resistance. If the price fails to overcome the resistance area at $0.50, it may start to decline again. The initial support on the downside is near the $0.490 level and the channel area. The next main support is at $0.4840. If there is a breakdown and a close below the $0.4840 level, the price may gain bearish momentum, in which case, it could trade below the recent low at $0.4765 in the near term. We recommend closely monitoring the resistance levels at $0.50 and $0.510. If the price manages to surpass these levels, there might be a buying opportunity targeting the $0.520 and $0.5320 levels. On the other hand, if the resistance is not exceeded and the price fails to stay above critical support levels, it might be better to avoid buying until a clear rebound point is confirmed. It is also crucial to follow news and events that could affect the market in general and the XRP price in particular.
BITSTAMP:XRPUSD
by bbitar
Unveiling the Falling Wedge: XRP Short-Term Boon Unveiling the Falling Wedge: A Short-Term Boon on the 4-Hour Chart In the fast-paced world of day trading, identifying short-term opportunities is crucial. The falling wedge, a technical chart pattern, emerges as a valuable tool for traders seeking to capitalize on price movements within a specific timeframe. This article dives deep into the falling wedge, exploring its characteristics, how to identify it on a 4-hour chart, and strategies to leverage it for short-term gain. Understanding the Falling Wedge The falling wedge, as the name suggests, is a bullish reversal pattern. It's formed by two converging trendlines, with price action creating lower highs and lower lows, but at a decreasing rate. Imagine a wedge shape being squeezed from top to bottom, with the narrowing gap hinting at a potential price reversal to the upside. This pattern signifies a period of consolidation where bears (sellers) are gradually losing momentum. While the price continues to fall, the decreasing distance between the trendlines indicates diminishing selling pressure. Bulls (buyers) start to accumulate, anticipating a potential breakout and price increase. Identifying the Falling Wedge on a 4-Hour Chart The 4-hour timeframe offers a sweet spot for day traders, providing a balance between short-term volatility and clear trend direction. Here's how to identify a falling wedge on your 4-hour chart: 1. Trendline Construction: Draw two trendlines, one connecting the swing highs (peaks) and another connecting the swing lows (valleys). Ensure both lines are sloping downwards, forming the wedge shape. 2. Convergence: Observe how the trendlines converge as the price action progresses. The closer the trendlines get, the more likely a breakout becomes. 3. Volume Confirmation: While not a definitive indicator, an increase in trading volume accompanying the price move towards the wedge's apex (point of convergence) can strengthen the breakout signal. Key Points to Remember: • The duration of the wedge formation doesn't have a set timeframe, but longer wedges tend to have stronger breakout potential. • The tightness of the wedge (how close the trendlines are) also influences the potential force of the breakout. Tighter wedges generally suggest a more explosive move. • False breakouts can occur, where the price pierces the lower trendline only to fall back within the wedge. Proper risk management is crucial in such situations. Strategies for Short-Term Gain Once you've identified a valid falling wedge on your 4-hour chart, here are some strategies to exploit the potential short-term gain: 1. Breakout Entry: Enter a long position (buying) once the price decisively breaks above the upper trendline. This breakout signifies a reversal in bearish momentum and a potential price increase. 2. Price Target: Set your initial profit target at a level equal to the height of the wedge. Measure this distance from the breakout point and project it upwards. 3. Stop-Loss Placement: Place your stop-loss order below the lower trendline of the wedge. This limits potential losses if the price falls and breaks the support level. 4. Trailing Stop-Loss: Consider employing a trailing stop-loss as the price moves in your favor. This adjusts your stop-loss automatically, locking in profits while allowing for some price fluctuations. Additional Considerations for Success While the falling wedge offers a promising setup for short-term gains, remember that successful trading requires a holistic approach. Here are some additional factors to consider: • Market Context: Analyze the overall market sentiment and any relevant news events that might influence the price action. • Technical Indicators: Combine the falling wedge with other technical indicators like Relative Strength Index (RSI) or Moving Average Convergence Divergence (MACD) to confirm the breakout signal. • Risk Management: Always prioritize risk management by using appropriate stop-loss orders and position sizing. Understanding the falling wedge and the strategies discussed empowers you to identify potential short-term trading opportunities on the 4-hour chart. Remember, consistent practice, a balanced approach, and proper risk management are key ingredients for success in navigating the ever-evolving world of day trading.
BITSTAMP:XRPUSDLong
by bryandowningqln
XRP Price Danger Zone: Key Support Levels to WatchRipple's (XRP) price has seen a significant decline after failing to maintain the critical support level at $0.4840. This drop led the currency to fall to the $0.4750 level, raising concerns among traders about the possibility of further losses in the near future. XRP has faced strong selling pressure, causing it to trade below the $0.4880 level and the 100-hour Simple Moving Average (SMA). With continued bearish pressure, it has become essential to closely monitor key support levels such as $0.4740 and $0.470. If XRP manages to hold these levels, we might see attempts to regain some bullish momentum. However, breaking below these levels could indicate further declines towards the next support level at $0.450. This article will focus on analyzing the current situation of XRP's price, highlighting the important support and resistance levels that traders need to monitor carefully to protect their capital and avoid potential risks. Resistance Levels: First resistance level: $0.4820 Second resistance level: $0.4850 Key resistance level: $0.4950 Next resistance levels: $0.5050 and $0.5250 Support Levels: First support level: $0.4740 Second support level: $0.470 Next support level: $0.450 Current Trend: The currency is currently trading below the $0.4880 level and the 100-hour SMA. There is a downward trend line forming with resistance at $0.4880. Buying at Support: It is preferable to wait until the price reaches the key support levels ($0.4740 and $0.470) before making a buying decision, as these levels represent strong support points where the decline is expected to halt and the price might start to rise again. Buying at these levels can provide an opportunity to acquire the currency at a low price, increasing the likelihood of achieving profits when the price rebounds upwards. This way, risks are minimized, and the chances of benefiting from future upward movements in the market are increased. Taking Profits at Resistance: In case of a price rise, the mentioned resistance levels ($0.4850 and $0.4950) can be identified as areas to take profits. Resistance levels are points on the chart where the price is expected to face difficulty in continuing to rise, and it might stop or decline due to a large number of sellers willing to sell at these levels. Therefore, when the price reaches these levels ($0.4850 and $0.4950), traders can decide to take profits from the purchases made previously at the support levels. This helps secure their profits before the price declines again. It is important to monitor price movements around the $0.5050 level, as this level is considered a key resistance. If the price exceeds this level and stabilizes above it, it might indicate strong buying momentum and continued upward movement. In this case, the price is expected to rise towards the next resistance level at $0.5250, providing an additional opportunity for greater profits. Hence, monitoring price movements around these important levels can help traders make informed decisions regarding taking profits and managing their investments effectively. Risk Management: If the price breaks the $0.470 support level and closes below it, it might indicate further decline towards $0.450. In this case, stop-loss orders should be placed below the $0.470 support level to avoid further losses. Caution and effective risk management are crucial to avoid significant losses in case of any sudden market fluctuations.
BITSTAMP:XRPUSD
by bbitar
XRP - 90% Probability trade!Hello Traders and Investors, today I will take a look at XRP. -------- Explanation of my video analysis: In 2017 XRP created a major triangle breakout and rallied more than +35.000% towards the upside. Since the beginning of 2018 XRP has once again been creating a triangle formation and is about to retest the lower support of the pattern which is perfectly lining up with a horizontal structure, creating a confluence of support at the $0.48 level. If we do get bullish confirmation, a bullish rejection is very likely to happen. -------- Keep your long term vision, Philip (BasicTrading)
BITSTAMP:XRPUSD
by basictradingtv
8
CAN WE FINALLY START IT? XRPThis week is very important for the Ripple legal case, and some millions are moving from Ripple. Can this be a sign of an agreement with the SEC? Last year, a positive new has pumped the price of XRP to $0.9. This time, also considering the actual Bitcoin price, i think that an end at the case can teleport the XRP price to a new ATH. Personally, i am increasing my long exposure, keeping a safe stoploss below 0.25. Risk to reward (0.25 SL, 3.5 TP) is again extremely good
Long
by SaliJournal
EVERYTHING IS PUMPING, BUT NOT XRPThis is an old movie, every crypto is pumping but Ripple coin is still at the same price of years ago. I can honestly say that it's pretty frustrating (XRP is a part of my bags, but hopefully a little part) and i think it's worse for who has a big bag of XRP. It's a clear manipulation, some big players are keeping the price low for a reason. Probably we will see a mega pump as soon as the legal case will be over. I expect a new ATH this year, and i start taking profit there only. Looking at the chart, you can see that the price is ranging again above the main trendline. I expect an upside moves at least till the first resistance area i drawed
Long
by SaliJournal
XRP going down till 0.3579 @ dailyRipple is a valuable cryptocurrency that its managers are eager to grow, attracting many investors and whales. I am very hopeful for its future, but in the fifteen-minute and thirty-minute time frames, two descending gaps will definitely be touched with the start of the price decline. Traders using leverage can profit from these two profit tickets. The first will be at 0.5277 and the second at 0.5153. Additionally, the nearest gap during the price decline, which must definitely be touched on the daily timeframe, will be at 0.3579. This will be the final stop for the price decline in Ripple, followed by a sharp upward movement in price.
by khosrooparviz
15
Ripple XRP Intraday Trade Setup XRP pushed through $0.54 failed to sutain price action above it and now is having a bearish pullback. However, as long as it is trading above $0.5276, a re-test of $0.5549 is very likely. A bullish break-out of $0.54 will offer more upside towards $0.5549 and, possibly, higher to $0.5790. Another re-test of $0.5276 followed by a bullish rejection and a break-out of $0.54 will lead XRP price to $0.5549 and, possibly, higher to $0.5790. Find more details in signature!
Long
by Trade-Lean