XRP 'What I See' Analysis -
THIS IS WHAT I SEE -
XRP has made 4 higher lows on the daily, apart from the recent fakeouts to below historical support line of 0.45
which tested 0ct11 & oct14 support on nov 14, 15, 19, 20 and today nov 21.
XRP is testing/tested the following - tenkan san, kijun, 200ema, 50ema, trend lines within triangle, symmetrical triangle bottom & top, oct 14 0.34 support, oct11 0.38 support, 0.45 may 30 historical support line.
Indicators (I use Godmode merged with Stoch, Phoenix ARI, MACD, Dynamic Pivots) have to bottom out & indicate support & turning points on 1D chart to build strength to get past this resistance and out of this triangle and above the cloud. When BBands start to tighten this will also give a sign that a big move is coming. 0.465 is acting as strong resistance just above 0.45 historical support line.
If the price closes on 1D above the cloud with a 50ema/200 ema golden cross this will trigger long trades, combined with a strong or weak bullish TK cross (Tenkan San light blue line crossing Kijun red line either above the cloud or below it), volume will then need to kick in. It will then be leaning towards bullishness and upside targets can be considered based on previous tops, supports and cloud data.
**Price has to close above the 1D cloud and above the 200ema and from there continued bullish or bearish bias will ultimately be decided.**
Loose Upside Targets - (0.485, 0.5, 0.52, 0.55, 0.57, 0.63, 0.7, 0.8, 0.93, 1.73, 1.78) I believe a 50% ATH retracement is possible with further upside from there.
(Targets not set in stone and I reserve the right to change them through continued analysis - this is not trading advice)
https://www.tradingview.com/chart/MlGF4mL7/
XRP has made 4 higher lows on the daily, apart from the recent fakeouts to below historical support line of 0.45
which tested 0ct11 & oct14 support on nov 14, 15, 19, 20 and today nov 21.
XRP is testing/tested the following - tenkan san, kijun, 200ema, 50ema, trend lines within triangle, symmetrical triangle bottom & top, oct 14 0.34 support, oct11 0.38 support, 0.45 may 30 historical support line.
Indicators (I use Godmode merged with Stoch, Phoenix ARI, MACD, Dynamic Pivots) have to bottom out & indicate support & turning points on 1D chart to build strength to get past this resistance and out of this triangle and above the cloud. When BBands start to tighten this will also give a sign that a big move is coming. 0.465 is acting as strong resistance just above 0.45 historical support line.
If the price closes on 1D above the cloud with a 50ema/200 ema golden cross this will trigger long trades, combined with a strong or weak bullish TK cross (Tenkan San light blue line crossing Kijun red line either above the cloud or below it), volume will then need to kick in. It will then be leaning towards bullishness and upside targets can be considered based on previous tops, supports and cloud data.
**Price has to close above the 1D cloud and above the 200ema and from there continued bullish or bearish bias will ultimately be decided.**
Loose Upside Targets - (0.485, 0.5, 0.52, 0.55, 0.57, 0.63, 0.7, 0.8, 0.93, 1.73, 1.78) I believe a 50% ATH retracement is possible with further upside from there.
(Targets not set in stone and I reserve the right to change them through continued analysis - this is not trading advice)
https://www.tradingview.com/chart/MlGF4mL7/
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