This is BitOwned with another trade setup for you ready for take off.
After the surprise drop from the cliff of BITFINEX:XRPUSD, that no one was expecting to happen (That should have been an alarm bell!), I took a step back as I usually like to do and waited for the chart to mature to find the best trade setup for you.
XRP/USD have stayed in the accumulation...
As we see XRP head towards $0.30, we see the trend set, the MACD have crossed as well as the MA's. 20MA could see a retest before we reject then drop further. Closed below the $0.35 support yesterday and is looking very bearish.
Interesting corrective pattern spotted here..
Resistances less severe with every trend line, and once broken, seeing lower highs every time and lower lows.
Every time the resistance trend line is broken, the price increases by a minimum of 120%.
Clear support levels at $0.25 and $0.15. Will we see ripple re-enter the pre consolidation prices in this range,...
XRP ON THE 1HR, Like stated last night, we melted through the trend line (BLUE SQUARE) as the candle closed below and hit $0.44 on some exchanges, then we picked up a new trend to take us towards the (YELLOW AREA). Next two zones we will be targeting are marked as RED ZONES.
First time we have seen it break above the Moving averages on the 3 day. Also looks likely that we may have finished or nearly finished wave 2 of a possible set of 5 EW waves.
Also I do like XRP long term, mainly due to the big names it has behind it, if there are any doors needing to be opened then these...
XRP after failing to close above the $0.49 resistance for the third day in a row looks set to push downwards towards the targets stated, Cloud still pushing XRP downwards and the MACD as signalled a downward movement also.
As it is seen on the graph there is a possitive divergence occured(not exact but fair enough). If it will increased the fiat, Inverted head and shoulders will be completed.
And possible targets shown as arrow. MACD olso seems quite satisfied as 30 min chart.
XRP hit the 200MA and is starting to pullback, we could see a test of $0.50. XRP has risen over 45% in the last two days which it hasn't really seen these gains since the Bull Run of January this year.