XRPUSD comes to a fork road today, it will either go the bulls or the bears way. Yesterday's MoneyGram news have definitely changed the pace XRP was taking, however, it wasn't enough to push us to break out the downwards trend.
Our chart shows that if we close green candles over the next 5-6 hours, it will be a significant change in the direction XRP is going and it would BEGIN to indicate that we're heading up - it's important to note nothing is a 100% indication unless begin to build significant volume with a clear uptrend. If we close red candles, then we take a look at our long-term trend line.
Goals are indicated on the chart - please use your own judgement when trading. There's LOTS of volatility around XRP, I would not recommend jumping into it unless indicators are clear to where it's heading. I will do my best to keep this thread as up to date, as possible.
Remember Consistency wins at the end of the day!
If you wish to contribute: XRP Wallet: rEb8TK3gBgk5auZkwc6sHnwrGVJH8DuaLh
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If we close this current 3hr candle in the red, it will not look good for breaking out. However, I'd start watching for the resistance point which is the trend line at 1.85 - If that's broken, we're most likely taking a nice steep ride to the 1.21 land!
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Support line at 1.85* NOT resistance line.
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Down but not out yet. The black box is the area we're watching for.
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We're looking good so far!
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XRPUSD has fell out of the trend is now following the downwards trend resistance line.
We will most likely be retesting support at 1.90-1.92
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Long-term trend line is broken. We will revisit 1.5 territory and potentially 1.21
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Daily chart for XRP looks quite promising...
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Just remember, the harder the drop... the bigger the bounce.
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We have huge support at 1.21 and 1.21 is technically 0.5 fib on the daily chart. if we hold this level, we will be looking at 4.5$ XRP in the near future.