XRP has been very underwhelming in the last few months. It had some very good formations that just didn't work out the way we had hoped. It appears this is mainly due to the rest of the market just not being ready to move up yet. The halving was still too far away. Plus I don't think it helped that ripple had their annual conference and needed to raise money for it. If you go back to the beginning of November right as XRP started spiraling down, thats when they held their conference and needed to raise money to pay for the thing.
With the halving just a few months away and bulls coming back into the spotlight. These formations should take hold and start taking us higher in XRP. Lets take a closer look here.
On the daily, we can see that XRP has gone past our previous support zone and is now starting to move upwards. This level is critical to have broken for a continuation move. We also notice that the MACD is sloping up and in positive territory indicating further strength. RSI looks to be getting into oversold territory on the daily, but still strong. This is also why I indicated on my chart that we could potentially go sideways for a little while since this over sold RSI needs to play out.
On the weekly chart, we can see a clear break of the downward trendline that XRP has followed. MACD is crossing and going into positive territory and RSI is showing a lot of strength coming off this oversold territory. If we get some solid follow-through we should see 30 cents again shortly. However, that's a major resistance level which is why I think we will get a pull back off of it. of course, it could pull a BTC and just blow right through it and spike to 50 cents. I think it will be best to gauge whether to take profit at 30 cents and watch for fast moving spikes like we have seen in DASH if we want to capture some of those quick gains.
XRP could very well be poised to move higher even though it's been rather fickle the last couple months.
Happy Hodling,
-Sherem
With the halving just a few months away and bulls coming back into the spotlight. These formations should take hold and start taking us higher in XRP. Lets take a closer look here.
On the daily, we can see that XRP has gone past our previous support zone and is now starting to move upwards. This level is critical to have broken for a continuation move. We also notice that the MACD is sloping up and in positive territory indicating further strength. RSI looks to be getting into oversold territory on the daily, but still strong. This is also why I indicated on my chart that we could potentially go sideways for a little while since this over sold RSI needs to play out.
On the weekly chart, we can see a clear break of the downward trendline that XRP has followed. MACD is crossing and going into positive territory and RSI is showing a lot of strength coming off this oversold territory. If we get some solid follow-through we should see 30 cents again shortly. However, that's a major resistance level which is why I think we will get a pull back off of it. of course, it could pull a BTC and just blow right through it and spike to 50 cents. I think it will be best to gauge whether to take profit at 30 cents and watch for fast moving spikes like we have seen in DASH if we want to capture some of those quick gains.
XRP could very well be poised to move higher even though it's been rather fickle the last couple months.
Happy Hodling,
-Sherem
Bình luận:
We need to crack .25 and we will see .30. We are getting there.
Bình luận:
Here. We. Go!
Bình luận:
According to plan. Heading to the .30-.32 area.
Bình luận:
With a solid weekly cross it's quite possible we won't pullback from this .30 area. We will need to monitor things and see if we get some downward pressure. Target is at .50 cent area atm
Giao dịch đang hoạt động:
Still holding.
