Smart Money Starting To Move $XRP $XRPBTC #Crypto
Looking at our trend timeframe we see XRP continues to respect its downtrend, stochastic rsi showing momentum is in favor of the bulls. Previous price action history shows us, XRP tends to break out when respecting a descending pattern as shown above. The price is currently testing our uptrend drawn from the 2017 bull run. A closer look may give us a better idea of what will happen.
Sticking to our same timeframe, however taking a closer look we can see XRP has tested 2450 satoshis for support on multiple occasions and cannot a breakthrough. We also see the price respect a descending pendant, break out and is currently being tested as the analysis is being written. A weekly close above 2700 is a good sign price wants to go up.
Shifting over to our pattern timeframe we get a better picture of what was happening on the daily schedule. Stochastic RSI showing momentum is just now starting to shift towards the upside. XRP also showing (4) bounces off our major support at 2450, each bounce closing higher than the previous low. A daily close above 2700 indicates XRP will continue towards the upside to test it's the nearest resistance.
Finally looking at our trigger timeframe we see XRP seems to be consolidating inside the 2700 zone, stochastic rsi showing momentum remains in favor of bulls even though we are momentarily paused. A 4hour close above 2725 should send us to the upside, notice how last time we were at this price we saw a run from 2600 up to 3200. I believe price action will show a very similar move.
