XRP having grown so much over the past few days, weeks, month is actually pretty difficult to study. We can have a better view of it's price action and possible movements on the log scaled chart.
Let's dive in. It seems that XRP has been in a downward trend since it's all time high, as expected and much in the same way that the whole market has.
XRP broke through many lines of support, and even made it's way below it's 200 EMA much in the same that BTC had. It seems we are seeing an upward trend or reversal. As in all markets we are returning to the mean. Moreover, the MACD has kissed and the RSI is starting to look up. There is still a long ways to go but it's a good sign. Will we be able to break above this 200 EMA which has in turn become a great point of resistance? I don't know. Should we watch it? Of course.
It seems that the downward trend and the EMA + fib level point of resistance all converge. This is going to be very interesting to watch.
Please comment, and challenge my ideas bellow. Let's discuss this.
I am not a financial advisor this is not financial advice.
Best of luck.
X
Let's dive in. It seems that XRP has been in a downward trend since it's all time high, as expected and much in the same way that the whole market has.
XRP broke through many lines of support, and even made it's way below it's 200 EMA much in the same that BTC had. It seems we are seeing an upward trend or reversal. As in all markets we are returning to the mean. Moreover, the MACD has kissed and the RSI is starting to look up. There is still a long ways to go but it's a good sign. Will we be able to break above this 200 EMA which has in turn become a great point of resistance? I don't know. Should we watch it? Of course.
It seems that the downward trend and the EMA + fib level point of resistance all converge. This is going to be very interesting to watch.
Please comment, and challenge my ideas bellow. Let's discuss this.
I am not a financial advisor this is not financial advice.
Best of luck.
X
Comment:
XRP XRP! Woot blasted through resistance, lets see if it can hold a new floor. If it does might be a good time to buy with stops below just in case.
Where will it trade though? Above the 100? The 50? Or are we going back down?