Hello again friends of the Cryptoverse!
I hope all have been well and enjoyed some healthy take profit from positions. I figured it is time to update my previous idea on XRP. Here I am taking another macro analysis of price, trend, and momentum. In order to provide this insight I am utilizing Heiken Ashi, RSI, EMA, MA, Fib Retracement (price), and finally Fib Channel (RSI). Along with these indicators, I have drawn a couple of lines and arrows to help the viewers identify the trends a little easier, what is TA without a couple of lines eh?
Please note that the green vertical lines denote timeframe values of a year. The horizontal yellow line denotes ATH (all-time high) values on the RSI. The price action has a Fib retracement, we are using this to help us better understand possible points of resistance, along with good exit and entry position being correlated with these values. Please also sync that data with the Fib channel that is drawn on the RSI. This helps corroborate our case for how we define momentum and possible points of a trend reversal. I am assuming that the viewers understand how to read EMA's and MA's on the price action.
So, what are we looking at? I take this to be a look at what changes in trend we can reasonably expect to take place as we come into the final Qtr of the year. This is no doubt an exciting time to be in the crypto space. Above all, I think we need to temper this excitement with risk management. I have provided this chart and analysis so that the XRP community will have a better understanding of how to asses entries and exits, along with how to place stop losses along these values. I think overall we are in store for some serious gains in XRP. Timing is always a confusing value to predict. However, trend values are not near as elusive a value for prediction models. I think we can make a reasonable case that XRP will do well in the coming months (maybe even weeks). Never forget your Risk, and always secure your profits.
In service,
Thermawar
*This is not financial advice, DYOR.
I hope all have been well and enjoyed some healthy take profit from positions. I figured it is time to update my previous idea on XRP. Here I am taking another macro analysis of price, trend, and momentum. In order to provide this insight I am utilizing Heiken Ashi, RSI, EMA, MA, Fib Retracement (price), and finally Fib Channel (RSI). Along with these indicators, I have drawn a couple of lines and arrows to help the viewers identify the trends a little easier, what is TA without a couple of lines eh?
Please note that the green vertical lines denote timeframe values of a year. The horizontal yellow line denotes ATH (all-time high) values on the RSI. The price action has a Fib retracement, we are using this to help us better understand possible points of resistance, along with good exit and entry position being correlated with these values. Please also sync that data with the Fib channel that is drawn on the RSI. This helps corroborate our case for how we define momentum and possible points of a trend reversal. I am assuming that the viewers understand how to read EMA's and MA's on the price action.
So, what are we looking at? I take this to be a look at what changes in trend we can reasonably expect to take place as we come into the final Qtr of the year. This is no doubt an exciting time to be in the crypto space. Above all, I think we need to temper this excitement with risk management. I have provided this chart and analysis so that the XRP community will have a better understanding of how to asses entries and exits, along with how to place stop losses along these values. I think overall we are in store for some serious gains in XRP. Timing is always a confusing value to predict. However, trend values are not near as elusive a value for prediction models. I think we can make a reasonable case that XRP will do well in the coming months (maybe even weeks). Never forget your Risk, and always secure your profits.
In service,
Thermawar
*This is not financial advice, DYOR.
Trade closed: stop reached