TiborVrbovsky

Ripple Technical Analysis with Updates.

BINANCE:XRPBTC   XRP / Bitcoin
Hey! after a while, I am back with another Ripple Technical Analysis with updates.

The rule is simple, The More likes, the More updates!

I am really glad from all the feedback I got in my previous TA with updates, but unfortunately, I was busy the whole week, but I am back with another TA with updates, so lets get right into it!

Here is the TA from week ago with almost 20 charts updates in case you have missed out, or dont know what this 'updates concept' means.


As I stated in my previous analysis, I still havent sold any of my XRP tokens, and I still think Ripple is seeing a strong demand, but selling wave is a selling wave even in good demand.

From the top.

Ripple has struggled for a while in 9500-9300 price range, testing lower and upper level sharply.
But after a double top of 9550 follown by an uptrend and unsuccesful test of 9500, downtrend was formed.

9160 support level shown some good strenght, but it wasnt enough to break the downtrend as macd suggested with the fast lane finding hard to break slower lane, so 9160 got broken an Ripple remained in downtrend for a while.

This situation has changed when Ripple reached support of 8725 from where uptrend was rising.
This uptrend was tested after second test of 8725 and you can see that full candles are above the trend, so the trend is valid, at least for a while.

Current situation.

Ripple is riding on a uptrend, currently testing 8900 level, which should not be that hard, the harder part of this will be the downtrend test, if this downtrend gets broken Ripple can head to test 9160, 9300 and so on.

Looking at Indicators.

MACD shows us that Ripple has went through three increasing selling waves, third one the strongest, so a pullback is expected.
First histogram tick was closed in green with good volume , so clear bullish signal from MACD .

RSI shows 37 level as strong support level , but only managed to raise the upper ressitance just a tiny bit. After this support was broken, it was retested as ressistance and failed, which led to selloff. RSI has seen a strong demand bounce, finding on its way just a small ressistances, as after ressistance was found, support was found really close below and continued to grow.
40 level was broken succesfuly, curious to see if test of 8900/40 rsi support will be succesful, but looks good so far.

Conclusion.

Was pretty much said in 'current situation' but very likely to test upper ressistances, bigest one currently is this downtrend.

See you in updates!

Thats all from me, for now.
If you agree with this Technical Analysis , consider leaving that "Agree Button" blue, as it leads me to post more similiar Technical Analysis .

Thanks for your time and good luck trading!
Comment: Here I am, with the first update on 15 min timeframe. MACD bullish slide was performed, strong rsi bounce was seen.
8930 was found as next ressistance after 8900 got broken. 8865 was the support level that needed to show us some confidence for this uptrend, and it was shown! RSI about to test 60 bullish rsi level.
Comment: Here is a quick look even on shorter, 5 min timeframe, currently testing downtrend. Succesful test in such high macd would show some bullish confidence, if not retest of 8865 is likely.
Comment: Collision of downtrend and uptrend. MACD is still on a rising uptrend histogram buying wave. RSI found support at 40 but not yet convincing enough.
Comment: Keep in mind that in longer period timeframe, XRP is still at corrective selling wave.
Comment: Good morning everyone. I am reporting with a 1h update. Downtrend was giving Ripple some trouble throughout the night, but has been succesfuly broken. New uptrend was formed, macd performed bullish slide and RSI has seen sharp bounce after 4O support was broken. You can imagine the bounce below 4O as a candle with high lower wick.
Comment: Here is a quick look on 2h timeframe. MACD is giving us a buy signal. RSI has shown some ressistance at 40 but this level got broken, hopefully Ripple can find support on this level. 8930 remains as current ressistance.
Comment: 5 min update, another downtrend has broken. Ripple found support at overall uptrend, sharper one was broken. rsi downtrend broken and macd about to give buy signal. Retest of 8930 is most likely to happen.
Comment: hourly update, ripple has seen a sharp test of 8725 and the uptrend remained strong, another macd bullish slide and a strong test of 40 rsi level, Ripple has broken out and may continue a while.
Comment: Very important 4h test to occur very soon.
Comment: here is a 30min update, retest ot 8930 was succesful. MACD is giving some confidence finding support at high levels. 9060 is current ressistance, 8930 support. This helps 4h macd to make a succesful test!
Comment: 5 min update, currently moving between 9000 and 9030. 9060 still a ressistance. Retest of 9060 is likely to happen.
Comment: Here Is what I mean by a statement that Ripple is on selling wave. Two strong selling waves that have last over 10 days, only managed to push the price about 15% down, counting from highest to lower point. If Ripple can manage to hold above 9,000, longer period buy signal will be given.
Comment: Another uptrend testing 9060 as I have suggested.
Comment: Once again I had a busy day, but here is a 1h update. So After Ripple has succesfuly broken through 9060, Ripple got stuck at 9130, seen sharp test of 9000 and quickly retested 9130 top(9127) performing double top. Downtrend has been formed, after 8930/4O has failed to hold, a sharper downtrend has been formed, currently Ripple is trying to hold 8800 level, if this level fails, which is likely as Ripple is struggling below support, retest of 8725 is likely.
Comment: Bigger 6h picture, you can see here the overall downtrend, the failed macd tests, the double top that led to this downtrend and decreasing volume which signifies big volume on the way. 8765 to 8500 is the key support level, from where can hopefully Ripple see uptrend. Its funny how when Bitcoin rises Ripple fall and reverse. Hard to tell what the next moves will be, it really depends on how this support zone will act.
Comment: Strong test of support level.
Thanks for the updates Tibor;)
+1 Reply
@braddles69, Thanks for the support, I enjoy to make these "Constant updates". It just feels to me very elementary and dont know if its somehow helpful in any way.
Reply
braddles69 TiborVrbovsky
@TiborVrbovsky, yes very helpful, I have been in the market for 11 months now and studying guys like you, the info and ideas are superb and I am getting ready to get more serious, thanks again
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