REDACTED XRP INTRA-DAY BREAKDOWN XRP INTRA-DAY BREAKDOWN - 26/03/19
We will do the top down style analysis that you should have become accustomed to By now to look at possible price direction.
WHAT CAN WE SEE ON THE DAILY CHART FOR XRP ?
- Well, first off, we can see on our candlestick price chart that we have been creating higher lows since at least mid September, when we made lows at 0.25$. At this price we had given the call to go long to 0.52$. We have yet to make lows like this since and it is quite evident that the 0.28$ price floor has held up until now. We can see that at the same time, we have been creating lower highs for even longer since February 2018 and the black resistance trend line on our price chart has kept price firmly down. We can see that EMA resistance is currently at 0.39$ and thus this in line with the fact that we have trend line resistance from feb 2018 holding price down, we can come to conclude that it will be difficult for XRP to see highs above the 0.39$ level. Even more so, trend line resistance indicates that price is and should be kept below 0.35$. Coming from a fundamental perspective, we saw the long awaited news yesterday that XRP will be listen on Coinbase pro. Even more so, this was not enough to break above trend line resistance since feb 2018 and we saw rejection from 0.35$ and I stated to priority members not to FOMO into this position but to rather wait for my analysis - this is quite surprising given that people have waited a year for this news and all it took was the right resistance to shut them all up. As priority members, our main aim should be to gather and process credible information and not to act on our emotions. I can also add that if 0.35$ is broken and the trend line resistance from feb 2018 is broken, then it may not be difficult to break above EMA resistance as currently trend line resistance is stronger than EMA RESISTANCE. On many occasions we have seen price go above EMA resistance but stay below Trend line resistance. Looking at the bearish perspective, we can see that a break of 0.31$ will indicate a break of higher low formation and thus, only then can we see bearish confirmation to the 0.25$ price floor. ON THE WHOLE, OUR DOWNWARD TARGETS OR BUY ZONES FOR XRP ARE STILL FIRMLY GROUNDED AT 0.10-0.15$.
- Looking at our momentum indicators, we can see that on RSI, we saw a rejection from resistance trend line on this indicator in line with resistance at 70 level RSI, which is a key resistance zone for RSI on XRP. Now, following this rejection, we failed to find support at the supporting trend line on this indicator at around 60 level RSI. Now, we can see in real time via our multi chart posted on priority for the daily chart that in fact we are seeing a rejection from the 60 level RSI and also a rejection from supporting trend line, which I suspect may now become a resistance trend line and we could definitely be making our way down to 29 level support on RSI. Again same with RSI/ROC showing bearish tendency at the minute on the daily time frame.
WHAT CAN WE SEE ON THE 4 HOURLY CHART FOR XRP ?
- Looking at our price chart, We can see the wicks to 0.35$ after the news and before the news was released, price saw support at 0.304$. This should indicate to us that we should fine tune our bearish confirmation price to 0.28$ and 0.25$ from 0.31$ to 0.304$ if we are to focus on the details. As stated above, a Break of these confirmation prices (0.31$ and 0.304$) will indicate a break of higher low formation and a break of supporting trend line and also the final straw of support indicated in our previous XRP analysis being 0.28$ has now been increased to 0.304$ and we can trade a lot more safely in the short direction now. On our price chart, we can also see EMA support being at 0.32$ and a break of EMA support will indicate downward bearish pressure to at least 0.311$ on the intra-day basis - please bare in mind the trickle down effect of Moving averages, if resistance is at 0.39$ EMA on daily and support EMA on 4 hourly is at 0.32$, if 0.32$ EMA support is broken through, then our EMA resistance on daily will also reduce - simple common sense. Moreover, we can see that MA was being used as support during the pump and is now on its final knees at 0.325$, thus a break of MA support will also be detrimental for bulls on XRP.
- Looking at our momentum indicators such as RSI, We can see that we are still inside the range on RSI of support and resistance shown by the two blue lines on this indicator through our multi chart view of this analysis only available to priority members. 50 level on RSI is momentarily acting as support and if this level holds then what we stated on our daily section could come to light ; the idea that we could end up testing 0.335-0.34$ before a rejection takes place. In addition to this, this is in line with the fact that 0.32$ is now a price floor, and previously it was a price ceiling. Normal market theory teaches us that once ceilings are broken, they become floors temporarily at least. On our RSI/ROC indicator, we can see that support is being shown at the 47 level, which is an infamous level support level on XRP. Again going in line with the idea that we could test 0.335-0.34$ (still following lower high formation) before a rejection to 0.32$ and 0.31$ respectively with our bearish confirmation price at 0.304$.
WHAT CAN WE SEE ON OUR 1 HOURLY CHART FOR XRP ?
- On our price chart, we can see that MA is failing to be support. EMA stands at 0.32$ as stated above and a rejection below this level is likely. This is in line with previous price ceiling being 0.32$ and now currently this is our price floor.
- Looking at our momentum indicators such as RSI, we can see that we have broken below supporting trend lines on RSI on the hourly and we could be making our way down to 29 level RSI for support in line with support being found at or above 0.311$ - our bearish confirmation price. On our RSI/ROC indicator, we can see that 47 level historically acts as support and this is in line with EMA support at 0.32$ and also previous price ceiling becoming a price floor. Thus, if support is found at 47 level on hourly RSI, then you can expect an increase to 0.345-0.34$ before bearish activity resumes and/or be stuck in a range with tops at this level before bearish activity resumes.
TO CONCLUDE:
1. BEARISH CONFIRMATION PRICE TO 0.28$ AND 0.25$ IS 0.304$. IF YOU ARE MORE RISK PRONE AND WANT TO TAKE ADVANTAGE EARLIER, YOU CAN ENTER ON A BREAK OF 0.311$ PRICE FLOOR.
2. 0.32$ IS CURRENT SUPPORT AND IF EMA IS USED AS SUPPORT AT THIS LEVEL, EXPECT MAXIMUM UPWARD ACTIVITY TO 0.335-0.34$ - a break above this level discredited Lower high formation.
3. There is a chance we could be stuck in a range between 0.32$ and 0.35$ before any break.
4. DONT FOMO, MAXIMUM UPWARD POTENTIALS ARE AT 0.35$ AND 0.39$.
5. FINAL BUY ZONES OF 0.15-0.10$ ARE STILL IN THE BOOKS!
** 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!
We will do the top down style analysis that you should have become accustomed to By now to look at possible price direction.
WHAT CAN WE SEE ON THE DAILY CHART FOR XRP ?
- Well, first off, we can see on our candlestick price chart that we have been creating higher lows since at least mid September, when we made lows at 0.25$. At this price we had given the call to go long to 0.52$. We have yet to make lows like this since and it is quite evident that the 0.28$ price floor has held up until now. We can see that at the same time, we have been creating lower highs for even longer since February 2018 and the black resistance trend line on our price chart has kept price firmly down. We can see that EMA resistance is currently at 0.39$ and thus this in line with the fact that we have trend line resistance from feb 2018 holding price down, we can come to conclude that it will be difficult for XRP to see highs above the 0.39$ level. Even more so, trend line resistance indicates that price is and should be kept below 0.35$. Coming from a fundamental perspective, we saw the long awaited news yesterday that XRP will be listen on Coinbase pro. Even more so, this was not enough to break above trend line resistance since feb 2018 and we saw rejection from 0.35$ and I stated to priority members not to FOMO into this position but to rather wait for my analysis - this is quite surprising given that people have waited a year for this news and all it took was the right resistance to shut them all up. As priority members, our main aim should be to gather and process credible information and not to act on our emotions. I can also add that if 0.35$ is broken and the trend line resistance from feb 2018 is broken, then it may not be difficult to break above EMA resistance as currently trend line resistance is stronger than EMA RESISTANCE. On many occasions we have seen price go above EMA resistance but stay below Trend line resistance. Looking at the bearish perspective, we can see that a break of 0.31$ will indicate a break of higher low formation and thus, only then can we see bearish confirmation to the 0.25$ price floor. ON THE WHOLE, OUR DOWNWARD TARGETS OR BUY ZONES FOR XRP ARE STILL FIRMLY GROUNDED AT 0.10-0.15$.
- Looking at our momentum indicators, we can see that on RSI, we saw a rejection from resistance trend line on this indicator in line with resistance at 70 level RSI, which is a key resistance zone for RSI on XRP. Now, following this rejection, we failed to find support at the supporting trend line on this indicator at around 60 level RSI. Now, we can see in real time via our multi chart posted on priority for the daily chart that in fact we are seeing a rejection from the 60 level RSI and also a rejection from supporting trend line, which I suspect may now become a resistance trend line and we could definitely be making our way down to 29 level support on RSI. Again same with RSI/ROC showing bearish tendency at the minute on the daily time frame.
WHAT CAN WE SEE ON THE 4 HOURLY CHART FOR XRP ?
- Looking at our price chart, We can see the wicks to 0.35$ after the news and before the news was released, price saw support at 0.304$. This should indicate to us that we should fine tune our bearish confirmation price to 0.28$ and 0.25$ from 0.31$ to 0.304$ if we are to focus on the details. As stated above, a Break of these confirmation prices (0.31$ and 0.304$) will indicate a break of higher low formation and a break of supporting trend line and also the final straw of support indicated in our previous XRP analysis being 0.28$ has now been increased to 0.304$ and we can trade a lot more safely in the short direction now. On our price chart, we can also see EMA support being at 0.32$ and a break of EMA support will indicate downward bearish pressure to at least 0.311$ on the intra-day basis - please bare in mind the trickle down effect of Moving averages, if resistance is at 0.39$ EMA on daily and support EMA on 4 hourly is at 0.32$, if 0.32$ EMA support is broken through, then our EMA resistance on daily will also reduce - simple common sense. Moreover, we can see that MA was being used as support during the pump and is now on its final knees at 0.325$, thus a break of MA support will also be detrimental for bulls on XRP.
- Looking at our momentum indicators such as RSI, We can see that we are still inside the range on RSI of support and resistance shown by the two blue lines on this indicator through our multi chart view of this analysis only available to priority members. 50 level on RSI is momentarily acting as support and if this level holds then what we stated on our daily section could come to light ; the idea that we could end up testing 0.335-0.34$ before a rejection takes place. In addition to this, this is in line with the fact that 0.32$ is now a price floor, and previously it was a price ceiling. Normal market theory teaches us that once ceilings are broken, they become floors temporarily at least. On our RSI/ROC indicator, we can see that support is being shown at the 47 level, which is an infamous level support level on XRP. Again going in line with the idea that we could test 0.335-0.34$ (still following lower high formation) before a rejection to 0.32$ and 0.31$ respectively with our bearish confirmation price at 0.304$.
WHAT CAN WE SEE ON OUR 1 HOURLY CHART FOR XRP ?
- On our price chart, we can see that MA is failing to be support. EMA stands at 0.32$ as stated above and a rejection below this level is likely. This is in line with previous price ceiling being 0.32$ and now currently this is our price floor.
- Looking at our momentum indicators such as RSI, we can see that we have broken below supporting trend lines on RSI on the hourly and we could be making our way down to 29 level RSI for support in line with support being found at or above 0.311$ - our bearish confirmation price. On our RSI/ROC indicator, we can see that 47 level historically acts as support and this is in line with EMA support at 0.32$ and also previous price ceiling becoming a price floor. Thus, if support is found at 47 level on hourly RSI, then you can expect an increase to 0.345-0.34$ before bearish activity resumes and/or be stuck in a range with tops at this level before bearish activity resumes.
TO CONCLUDE:
1. BEARISH CONFIRMATION PRICE TO 0.28$ AND 0.25$ IS 0.304$. IF YOU ARE MORE RISK PRONE AND WANT TO TAKE ADVANTAGE EARLIER, YOU CAN ENTER ON A BREAK OF 0.311$ PRICE FLOOR.
2. 0.32$ IS CURRENT SUPPORT AND IF EMA IS USED AS SUPPORT AT THIS LEVEL, EXPECT MAXIMUM UPWARD ACTIVITY TO 0.335-0.34$ - a break above this level discredited Lower high formation.
3. There is a chance we could be stuck in a range between 0.32$ and 0.35$ before any break.
4. DONT FOMO, MAXIMUM UPWARD POTENTIALS ARE AT 0.35$ AND 0.39$.
5. FINAL BUY ZONES OF 0.15-0.10$ ARE STILL IN THE BOOKS!
** 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!
