REDACTED XRP INTRA-DAY BREAKDOWN
What has occurred since our last INTRA-DAY BREAKDOWN FOR ETH ?
‘’TO CONCLUDE:
- EXPECT SLIGHT BULLISH ACTIVITY TO 0.377-0.38$
- THEREAFTER, EXPECT A DROP TO 0.34100$ AT THE MINIMUM.
- AT 0.34$ THERE COULD BE SUPPORT FOR US TO RETEST 0.41$ (MORE REALISTICALLY 0.39$ ONE MORE TIME).
- THE BULLS ON XRP ARE RUNNING OUT OF MOMENTUM IN GENERAL AND UPWARD TARGETS IN THE LONG TERM SUCH AS 0.45 CAN ONLY BE ACTIVATED BY PEGGED PAIR BTC FINDING SUPPORT AT 3427-3610$ AND GOING ON TO TEST NECKLINE AT 4.4K :)’’
REVIEW:
1. We saw the increase to 0.377-0.38$ and price held below this level till the 10th of January before we saw a nasty final wick to retest previous supporting trend line at 0.40$. However, as we can see from our conclusion even this wick was factored in.
2. Thereafter, i stated that our first target to the downside was 0.34$ and this was achieved very quickly. With regular updates on our various channels of information, I stated that our second target would be 0.31$ and this would act as a support region. This was also achieved to the T!
3. As explained, 0.45$ was impossible to retest unless we saw bullish activity on BTC take us to 4.4k neckline.
We will do the top down style analysis that you should have become accustomed to by now to look at possible price direction of the next move:
WHAT CAN WE SEE ON THE DAILY CHART FOR XRP ?
- Well, we can see that EMA 200 resistance now lays at 0.43$. None the less, the odds of us testing this price range is further reduced by the fact down trend line constricts price at the minute to a maximum of 0.377$ and even less to 0.35$. This indicates to us that this wedge formation is about to come to a close. Moreover, as expected, we can see that support was found at 0.311$ to the T and that at the minute on the daily chart MA is being used as resistance. A break below 0.311$ will lead to the nullification of the higher low concept that has been created since 0.25 and 0.28$ and in this scenario, it could be evident that we drop straight from 0.311$ to 0.25$ and 0.28$ major support level is invalidated.
- Looking at our momentum indicators, we can see that after finding support at 30 level, we have failed to break above ascending trend line on this indicator, which was previously a supporting trend line and now seems to be acting as a resistance since making lows in price. Looking at our RSI/ROC indicator, we can see that 47 level is currently being used as resistance and historically this is normal. We may spend some time bouncing between 47-39 level on this indicator.
WHAT CAN WE SEE ON THE 4 HOURLY CHART FOR XRP ?
- We can see that EMA 200 as explained above realistically lays between 0.34-0.35$ and price action to the upside up and until this level are acceptable. None the less, as can be seen on our price chart and our various momentum indicators, bearish price action is holding huge influence at the minute.
- Looking at our momentum indicators we can see that 60 level RSI is acting as resistance and currently we are nearly about to break out of ascending trend line structure on the RSI chart and like our daily chart, we should begin to use the previous supporting trend line as resistance. Moreover, on our RSI/ROC indicator, we can also see a rejection from 60 level and a drop towards 47 level is in play at the minute. Regardless, RSI/ROC is also showing us that an increase to 0.34$ and 0.35$ would mean that we would retest 80 level RSI/ROC and this would create perfect price action for us to destroy through 0.311$ support and even more so a break through 0.28$ support in order for us to reach REAL support at 0.25$ once again.
WHAT CAN WE SEE ON THE 1 HOURLY CHART FOR XRP ?
- We can see that EMA resistance has come even closer at 0.327, however, bullish price action on the hourly may continue till 0.33$ on the whole. We can see that currently MA is being used as support on the hourly and it is the only thing stopping price from dropping fast.
- On our momentum indicators such as RSI, as outlined in the above timeframes, we are seeing reasoning behind our assumption that we would need to test upper zones before dropping as RSI on the hourly is using blue trend line as support in order for us to retest 80 level resistance on this time frame and for price to retest 0.327$ in order to meet the first sign of resistance at EMA 200. Looking at RSI/ROC we can see that quite the opposite is happening as we are seeing resistance at 60 level. None the less, as stated time and time again, RSI/ROC is good for seeing averaged out price action, but RSI is always key in picking up things early and divergences on smaller time frames often show up on this indicator first.
TO CONCLUDE:
1. EXPECT an increase to 0.327$ in the short term and I suspect the bears will come back in at this price. If this level does not hold as resistance on the hourly, then bare in mind that 4 hourly EMA resistance and downtrend line indicate a maximum upward potential to 0.34-0.35$.
2. Thereafter, after seeing resistance at either one of these zones, we will see a retest of 0.311$ support. If this level is broken through, then higher low formation is destroyed and we will make our way to 0.28$ but because we broke out of the wedge, 0.28$ may not EVEN hold at all and final supporting frontier for XRP lays at 0.25$.
3. THE QUICKER WE BREAK THROUGH THESE FINAL STRAWS OF SUPPORT, THEN THE QUICKER WE DROP TO OUR ALLOCATED BUY/HODL ENTRY REGION OF 0.15-0.10$.
** PLEASE NOTE THAT THIS ANALYSIS IS IN A REDACTED FORM, AND FULL FORM FOR EDUCATIONAL PURPOSES CAN ONLY BE SEEN BY PAYING PRIORITY MEMBERS **
PLEASE SEE RELATED IDEAS DOWN BELOW ;) & don't forget to stay up to date with our calls by following our Instagram and telegram channels down below AND ON OUR TRADINGVIEW PAGE - CALL AFTER CALL CORRECT!
What has occurred since our last INTRA-DAY BREAKDOWN FOR ETH ?
‘’TO CONCLUDE:
- EXPECT SLIGHT BULLISH ACTIVITY TO 0.377-0.38$
- THEREAFTER, EXPECT A DROP TO 0.34100$ AT THE MINIMUM.
- AT 0.34$ THERE COULD BE SUPPORT FOR US TO RETEST 0.41$ (MORE REALISTICALLY 0.39$ ONE MORE TIME).
- THE BULLS ON XRP ARE RUNNING OUT OF MOMENTUM IN GENERAL AND UPWARD TARGETS IN THE LONG TERM SUCH AS 0.45 CAN ONLY BE ACTIVATED BY PEGGED PAIR BTC FINDING SUPPORT AT 3427-3610$ AND GOING ON TO TEST NECKLINE AT 4.4K :)’’
REVIEW:
1. We saw the increase to 0.377-0.38$ and price held below this level till the 10th of January before we saw a nasty final wick to retest previous supporting trend line at 0.40$. However, as we can see from our conclusion even this wick was factored in.
2. Thereafter, i stated that our first target to the downside was 0.34$ and this was achieved very quickly. With regular updates on our various channels of information, I stated that our second target would be 0.31$ and this would act as a support region. This was also achieved to the T!
3. As explained, 0.45$ was impossible to retest unless we saw bullish activity on BTC take us to 4.4k neckline.
We will do the top down style analysis that you should have become accustomed to by now to look at possible price direction of the next move:
WHAT CAN WE SEE ON THE DAILY CHART FOR XRP ?
- Well, we can see that EMA 200 resistance now lays at 0.43$. None the less, the odds of us testing this price range is further reduced by the fact down trend line constricts price at the minute to a maximum of 0.377$ and even less to 0.35$. This indicates to us that this wedge formation is about to come to a close. Moreover, as expected, we can see that support was found at 0.311$ to the T and that at the minute on the daily chart MA is being used as resistance. A break below 0.311$ will lead to the nullification of the higher low concept that has been created since 0.25 and 0.28$ and in this scenario, it could be evident that we drop straight from 0.311$ to 0.25$ and 0.28$ major support level is invalidated.
- Looking at our momentum indicators, we can see that after finding support at 30 level, we have failed to break above ascending trend line on this indicator, which was previously a supporting trend line and now seems to be acting as a resistance since making lows in price. Looking at our RSI/ROC indicator, we can see that 47 level is currently being used as resistance and historically this is normal. We may spend some time bouncing between 47-39 level on this indicator.
WHAT CAN WE SEE ON THE 4 HOURLY CHART FOR XRP ?
- We can see that EMA 200 as explained above realistically lays between 0.34-0.35$ and price action to the upside up and until this level are acceptable. None the less, as can be seen on our price chart and our various momentum indicators, bearish price action is holding huge influence at the minute.
- Looking at our momentum indicators we can see that 60 level RSI is acting as resistance and currently we are nearly about to break out of ascending trend line structure on the RSI chart and like our daily chart, we should begin to use the previous supporting trend line as resistance. Moreover, on our RSI/ROC indicator, we can also see a rejection from 60 level and a drop towards 47 level is in play at the minute. Regardless, RSI/ROC is also showing us that an increase to 0.34$ and 0.35$ would mean that we would retest 80 level RSI/ROC and this would create perfect price action for us to destroy through 0.311$ support and even more so a break through 0.28$ support in order for us to reach REAL support at 0.25$ once again.
WHAT CAN WE SEE ON THE 1 HOURLY CHART FOR XRP ?
- We can see that EMA resistance has come even closer at 0.327, however, bullish price action on the hourly may continue till 0.33$ on the whole. We can see that currently MA is being used as support on the hourly and it is the only thing stopping price from dropping fast.
- On our momentum indicators such as RSI, as outlined in the above timeframes, we are seeing reasoning behind our assumption that we would need to test upper zones before dropping as RSI on the hourly is using blue trend line as support in order for us to retest 80 level resistance on this time frame and for price to retest 0.327$ in order to meet the first sign of resistance at EMA 200. Looking at RSI/ROC we can see that quite the opposite is happening as we are seeing resistance at 60 level. None the less, as stated time and time again, RSI/ROC is good for seeing averaged out price action, but RSI is always key in picking up things early and divergences on smaller time frames often show up on this indicator first.
TO CONCLUDE:
1. EXPECT an increase to 0.327$ in the short term and I suspect the bears will come back in at this price. If this level does not hold as resistance on the hourly, then bare in mind that 4 hourly EMA resistance and downtrend line indicate a maximum upward potential to 0.34-0.35$.
2. Thereafter, after seeing resistance at either one of these zones, we will see a retest of 0.311$ support. If this level is broken through, then higher low formation is destroyed and we will make our way to 0.28$ but because we broke out of the wedge, 0.28$ may not EVEN hold at all and final supporting frontier for XRP lays at 0.25$.
3. THE QUICKER WE BREAK THROUGH THESE FINAL STRAWS OF SUPPORT, THEN THE QUICKER WE DROP TO OUR ALLOCATED BUY/HODL ENTRY REGION OF 0.15-0.10$.
** PLEASE NOTE THAT THIS ANALYSIS IS IN A REDACTED FORM, AND FULL FORM FOR EDUCATIONAL PURPOSES CAN ONLY BE SEEN BY PAYING PRIORITY MEMBERS **
PLEASE SEE RELATED IDEAS DOWN BELOW ;) & don't forget to stay up to date with our calls by following our Instagram and telegram channels down below AND ON OUR TRADINGVIEW PAGE - CALL AFTER CALL CORRECT!
Trade closed: target reached:
Expect retest of supporting trend line at 0.311$ before next drop to 0.28$ price floor. short term, 0.28$ price floor should be broken to see support back at 0.25$.
