XRP downtrend breakout

BITFINEX:XRPUSD   Ripple / Dollar
January and February have been rough months for the cryptosphere. XRP has been no exception, losing more than half the gains that we saw through December, right after where we entered a downtrend that has lasted for weeks.
Strong fundamentals came in as early as January 11th with the partnership announcement between Ripple and MoneyGram. The price managed to spike up to 50 cents a coin, however the momentum lasted little and soon enough we were back onto the bearish theme that started on January 4th.
Even more news of new partnerships came in but that also didn't do much to the price.
All of this tells us that the current market sentiment of XRP is bearish . This is also fed by the sentiment that lingers over Bitcoin             and similar cryptocurrencies.

We are, however, finally seeing a breakout of that downtrend. I normally draw only one trend line on my charts but I decided to draw two on this one because one shows a weak breakout and the other one seems stronger.

If this breakout is a real one, we might then be en-route towards the 1.38-1.40 levels and from there on 1.58-1.60. This could change the market sentiment overall and give XRP some power to climb up the hill             .

Bear in mind that the prices vary somewhat between different exchanges so you might find S&R levels at slightly different prices but in general what we're looking for here is a market sentiment change of direction, rather than just new areas of supply and demand .
Bình luận: As of right now the price is retesting the trend line (resistance becoming support).
If the price manages to keep above it, we might see some further upward moves. Otherwise it will be a confirmation of a false breakout and the bearish trend will continue.
Tiếng Việt
English (UK)
English (IN)
Bahasa Indonesia
Bahasa Melayu
Trang chủ Sàng lọc cổ phiếu Công cụ tìm kiếm tín hiệu Forex Tìm kiếm tín hiệu Cryptocurrency Lịch kinh tế Cách thức hoạt động Tính năng biểu đồ Điều khoản sử dụng Người điều hành Giải pháp Website & Môi giới Widgets Thư viện biểu đồ chứng khoán Yêu cầu tính năng Blog & Tin tức Hỏi đáp Hỗ trợ & Wiki Twitter
Hồ sơ Tùy chỉnh hồ sơ Tài khoản và Tính phí Tickets Hỗ trợ của tôi Liên hệ hỗ trợ Các ý tưởng đã xuất bản Người theo dõi Đang theo dõi Tin nhắn riêng Trò chuyện Đăng xuất