SUMMARY: Accumulation phase for XRP, opportunity to stack some XRP
-- Technical --
A sharp retracement driven by the BTC sell off/crash. We see a very high correlation between BTC and XRP price.
We are in a tight trading range of 0.85-$1.10.
The oscillators show weakness in price and we may see a retest of the 50 EMA before a key reversal.
-- Fundamentals --...
XPR on the 8HR time frame has had candles close bellow the "Ascending lower trend line" breaking this symmetrical triangle. If the price falls and closes bellow the pivot level of $0.88 then it will start forming lower lows instead of higher high's pattern previously.
$0.82 is a crucial key level of support when zooming out & viewing other larger time frames. We...
XRP AND THE WHOLE CRYPTO MARKET HAS HAD A SUDDEN FALL IN PRICE. I BELIEVE PRICE ACTION IS NOW GOING TO START TO MOVE BULLISH. IF THE DAILY CLOSES AS A DOJI WE SHOULD SEE BULLISHNESS IN THE NY SESSION TOMORROW.
Ok. There might be others but the only one i have spotted so far that is set for a massive bull run is XRP
Analysis was done usi ng my own methodology which i wont go in to, but its over multiple time frames and how one effects the other...so pretty thorough, using this analysis i have determined we should bounce strong, have quite a large pullback but after that...
To get to the moon, obviously we have to get past $1 first. Which is proving to be very tough. A good intraday trade now is a buy up to the daily low, either earlier this week or last week I can't remember. Remember tight stops. A loss can always be made back
XRP has a potential Inverted H&S setting up on the 1HR timeframe. If the neckline gets violated and then closes above then the I H&S would be valid and I would look for short term targets above. The RSI is showing bullish divergence across all 3 points of the potential I H&S. This is my own analysis and not investment advice.
Crypto's been very weak past few weeks and XRP even with the positives from the SEC cases hasn't boosted price much.
Break of the triangle structure should help and clear that short term bearish 61.8% should push to 1.30 short term.