XRP could break-out, but it could also go back underwater
XRP's charts have been very confusing, as almost every chart in the cryptoverse. MANY alts are showing very bullish signals but BTC is definitely deciding the way to go forward for the market and currently that means we're moving sideways. James Fend has been extremely bullish on Ripple for about a month now while Ripple kept moving between channels. I, too, have been bullish on Ripple for a while. Ignore what people say about it being a centralized coin; it's one of the few coins that has media exposure and one of the few coins that has actually collected a track record of pilots for application in an international setting.
So what does the analysis say?
With the 231 day MA showing an uptrend, and all of the other MA's moving really close to one another we could be looking at an XRP upward movement really soon. However, we could also go further down with the 7 day MA moving under the 77 day MA. It might aim for the 231 showing the "underwater" pattern/syndrome which would mean bad news. The RSI looks pretty good though so it might be worth it.
What will be decisive here is what the 7 day moving average is going to do. If it spikes up to the 77 day moving average we will be looking at:
- A positive 7 day MA
- A positive 77 day MA
- A 7 - 77 cross
- A positive 231 day MA
These indicators all show what we know to be true; white over blue means MONEY.
I am not going to hold for the long term. To determine the selling point I will be looking at a WOB crossover on the 1 hour chart.
So what does the analysis say?
With the 231 day MA showing an uptrend, and all of the other MA's moving really close to one another we could be looking at an XRP upward movement really soon. However, we could also go further down with the 7 day MA moving under the 77 day MA. It might aim for the 231 showing the "underwater" pattern/syndrome which would mean bad news. The RSI looks pretty good though so it might be worth it.
What will be decisive here is what the 7 day moving average is going to do. If it spikes up to the 77 day moving average we will be looking at:
- A positive 7 day MA
- A positive 77 day MA
- A 7 - 77 cross
- A positive 231 day MA
These indicators all show what we know to be true; white over blue means MONEY.
I am not going to hold for the long term. To determine the selling point I will be looking at a WOB crossover on the 1 hour chart.
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Looks like we're breaking up!