CryptoAST XRP USD UPDATE
We stated on our last XRP update that we are actually in a downward channel on XRP on the daily and we would be hitting the roof at 0.34$ and thereafter, after meeting the resistance down trend line, we would be seeing a drop to 0.25$. Apologies, I had not given the short like I had given the long from 0.23$ to 0.34$ even though we had a plan this would happen.
We will give you an update of the market, per usual once again.
- Now on the daily, we are seeing resistance from the EMA and SMA. We can also see that even though our momentum indicators are extremely bearish, we still have capacity for continued bearish price action down to 0.22$. Thereafter, we should see a rise to 0.25-0.26$ before the real bearish price action to lows of 0.16$ begins, with support being met at this level simply because this level is the trend line support intersection with price.
- The four hourly chart is showing the same as above.
- On the hourly, we can see a more intricate and reliable analysis that 0.245$ highs could be met first to meet EMA 200 resistance before bearish price action begins rather than 0.25-0.26$ dynamic price ceiling. More likely is 0.24$ price ceiling in the near future, where we can see short orders are piled up, if we zoom into the 30m timeframe .
- We expect price to drop to lows of 0.16$ in the medium term on XRP/USD. We already have a short position given to everyone to take on this information.
CHECK OUT OUR TELEGRAM CHANNEL DOWN BELOW FOR TIMELY UPDATES AND EXACT ENTRIES!
We stated on our last XRP update that we are actually in a downward channel on XRP on the daily and we would be hitting the roof at 0.34$ and thereafter, after meeting the resistance down trend line, we would be seeing a drop to 0.25$. Apologies, I had not given the short like I had given the long from 0.23$ to 0.34$ even though we had a plan this would happen.
We will give you an update of the market, per usual once again.
- Now on the daily, we are seeing resistance from the EMA and SMA. We can also see that even though our momentum indicators are extremely bearish, we still have capacity for continued bearish price action down to 0.22$. Thereafter, we should see a rise to 0.25-0.26$ before the real bearish price action to lows of 0.16$ begins, with support being met at this level simply because this level is the trend line support intersection with price.
- The four hourly chart is showing the same as above.
- On the hourly, we can see a more intricate and reliable analysis that 0.245$ highs could be met first to meet EMA 200 resistance before bearish price action begins rather than 0.25-0.26$ dynamic price ceiling. More likely is 0.24$ price ceiling in the near future, where we can see short orders are piled up, if we zoom into the 30m timeframe .
- We expect price to drop to lows of 0.16$ in the medium term on XRP/USD. We already have a short position given to everyone to take on this information.
CHECK OUT OUR TELEGRAM CHANNEL DOWN BELOW FOR TIMELY UPDATES AND EXACT ENTRIES!
