Hello fellow traders ,
Its a cucial time for XRP.
As we can see it failled to break the fisrt resistance of the 50 EMA (orange) multiple times so far .
The first big step for Ripple will be to break the 50 EMA and then break the 100EMA(purple) , 200EMA(red) and finally the downtrend resistance line (red dots).
The last 1 week XRP has created a rounding top(red area) which is a signal of further downward movement.
In case that this happens XRP will find support at a)0,57 b)0,54 c)0,42
The 0,57 support its not so strong so i would expect it to not hold and then test the 0,54 and 0,42 level.
I would buy into XRP only if it breaks the 50EMA .
Till then lets be patient and observe XRP .
Its a cucial time for XRP.
As we can see it failled to break the fisrt resistance of the 50 EMA (orange) multiple times so far .
The first big step for Ripple will be to break the 50 EMA and then break the 100EMA(purple) , 200EMA(red) and finally the downtrend resistance line (red dots).
The last 1 week XRP has created a rounding top(red area) which is a signal of further downward movement.
In case that this happens XRP will find support at a)0,57 b)0,54 c)0,42
The 0,57 support its not so strong so i would expect it to not hold and then test the 0,54 and 0,42 level.
I would buy into XRP only if it breaks the 50EMA .
Till then lets be patient and observe XRP .