The previous analysis of the exchange rate followed the first wave, followed by a downward turn. Indication that the additional wave structure is not being met. Therefore, if we look at the wave structure that has been carried out so far, it becomes apparent that the fractal 1 is moving in the structure of the track. It is therefore advisable to trade this...
Today we look at XRP / USD analysis. XRP is the 3 largest cryptocurrency by capitalization. This coin is typical in that it has an absolutely different graph and structure than the remaining coins. Most people still remember it from 2017 when they made an extreme increase in 1 month. However, since then it has been very weak from XRP.
0.370 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 61.
New trading suggestion:
*There is still a possibility of temporary retracement to...
. Ripple/Dollar is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 34.
. There is a possibility of temporary retracement to suggested support zone (0.29000 to 0.26000). if so, traders can set orders based on Price Action...
We witnessed a bullish move on XRP last week a day after i published my last post where i predicted price would rocket from the 0.4250 region to the next major resistance level, to which it did indeed rocket up to 0.5100, just shy of the resistance level at around 0.5200. I also mentioned in the previous post that we could see price retest the trendline first...