Providing very basic technical analysis of XRP/USD
Ripple's native cryptocurrency, XRP, is one of the most attractive assets to look at for long term and/or short term investing. Short term, there are many opportunities involving XRP, however if you are trading cryptocurrencies you should always expect extreme volatility at any moment. None of anything I say or write is investment advice, I am only a stranger you do not know on the internet discussing an asset that I have been extremely passionate about for the past 5+ years. That being said,
On this Weekly Chart we can see that the .702 Fib. level has been wicked down to, there is about 9 hours left to this Weeks close, on the lower time frames this area has been respected as support. Both the .382 and .702 areas on my fibs are colored different than the rest of my fib levels. That is because these are areas of extreme significance to me personally. I always am on the look out to see what price will do at these levels. On the week of the 13th of August 2018 there is a wick which begins a trendline that also wicks on the 17th of June 2019, this extends all the way through to where we are currently at today. Waiting for this Weekly close. All moving averages are bullish, confirming uptrends, the adx and di for crypto is also confirming uptrend. The higher high on the weekly has been created, we are now looking for a higher low to continue the trend upwards.
The prices around that trend line, which begins in 2018, is now being tested on lower time frames..
So currently there is a lot of exciting action in the markets, the news on top of all of this is even more exciting! (and bullish)
The goal for this post is to monitor XRP long term, I will be posting more information about NEWS, and any exciting updates on XRP here as well.
Ripple's native cryptocurrency, XRP, is one of the most attractive assets to look at for long term and/or short term investing. Short term, there are many opportunities involving XRP, however if you are trading cryptocurrencies you should always expect extreme volatility at any moment. None of anything I say or write is investment advice, I am only a stranger you do not know on the internet discussing an asset that I have been extremely passionate about for the past 5+ years. That being said,
On this Weekly Chart we can see that the .702 Fib. level has been wicked down to, there is about 9 hours left to this Weeks close, on the lower time frames this area has been respected as support. Both the .382 and .702 areas on my fibs are colored different than the rest of my fib levels. That is because these are areas of extreme significance to me personally. I always am on the look out to see what price will do at these levels. On the week of the 13th of August 2018 there is a wick which begins a trendline that also wicks on the 17th of June 2019, this extends all the way through to where we are currently at today. Waiting for this Weekly close. All moving averages are bullish, confirming uptrends, the adx and di for crypto is also confirming uptrend. The higher high on the weekly has been created, we are now looking for a higher low to continue the trend upwards.
The prices around that trend line, which begins in 2018, is now being tested on lower time frames..
So currently there is a lot of exciting action in the markets, the news on top of all of this is even more exciting! (and bullish)
The goal for this post is to monitor XRP long term, I will be posting more information about NEWS, and any exciting updates on XRP here as well.