Today’s update will be on XRPBTC coming out of a nice strong breakout with convincing volume!
Points to consider,
- Strong resistance broken
- Support at .382 Fibonacci (S/R Flip)
- Stoch’s showing downwards momentum
- testing structural support, needs to return to neutral territory
- EMA’s yet to meet price
XRP has broken a very key resistant level with follow through, test upper Fibonacci levels and respecting the .786 line. Noticeable strong bull confirmed that this was not a false break leading to a nice 14% + gain…
Currently price has retraced, most likely due to BTC’s recent correction, XRP should test its now support previous resistance and confirm before heading further up…
Signs are showing that this retest may come to fruition as the is way over extended; it needs to cool off and return to neutral territory. The stochastics is showing us downwards momentum being projected; there is a high probability that XRP does test support to cool of other indicator.
The EMA’s are yet to meet price fully, although we do have a cross however a test will confirm if price hold or breaks the EMA’s…
What are your thoughts on XRPBTC? Will it test its new support or break through it?
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