Hey! I am back with another Idea, this time looking again at Ripple, my favorite "cryptocurrency", even if you dont consider it as cryptocurrency its still just a good investment of money.
Many people are saying that Ripple token is unable to rise in value, well thats not true if you read enough about Ripple token usecase.
Just think about it for a while.
The developers of XRP token are making money from XRP rising in value, they want to rise XRP in value even for their own fortune. Its their primary source of income as they own good ammount of XRP tokens.
Think about how long XRP has been here, and how wide, mostly Brad, talking about XRP and with certaintity showing usecases, and future of banks payment.
Okay, enough of boring talking, lets look at the daily chart.
I really like XRP chart, as its one of the most healthiest acting chart in this whole market. Finding ressistance at one point and then finding support on it and acting stable, thats a sign of good demanded market.
What I mean by that.
After XRP was breaking out from 4400 sats to almost 12000sats, it found a ressistance zone at 9000, which is a good long known ressistance level. After second runup to 10500, Ripple has managed to find support in this zone, and has been acting stable in it even after a runup.
Currently is XRP in the accumulation phase, hovering between 8500 and 9000.
XRP price will hover for another while in this price, as I suggested in my previous XRP analysis.
The future of XRP token.
XRP is acting very strong and healthy in such despair market, when touches major support, a bounce is seen. By the looks of it, XRP may remain in uptrend for a longer period of time, I am still buying more of XRP and pushing my portfolio into this coin/token.
Only thing which would not mean a good end, is XRP breaking below 8500 with no bounce.
Lets look at Indicators in the last place.
Volume, currently in accumulation phase where you can see XRP have similiar Volume, waiting for another possible wave.
MACD, is pretty clear and healthy, no crazy changes, follows trend accurately. Currently uptrending, cross above neutral macd level would be a strong bullish sign, curious to see.
RSI, the demand is really good, even after such runup. I managed to find 52.5 RSI level as the main support/ressistance level, not considering 60 and 40.
If you would like me to post some updates, let me know in comments or Agreeing with my idea.
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!
Many people are saying that Ripple token is unable to rise in value, well thats not true if you read enough about Ripple token usecase.
Just think about it for a while.
The developers of XRP token are making money from XRP rising in value, they want to rise XRP in value even for their own fortune. Its their primary source of income as they own good ammount of XRP tokens.
Think about how long XRP has been here, and how wide, mostly Brad, talking about XRP and with certaintity showing usecases, and future of banks payment.
Okay, enough of boring talking, lets look at the daily chart.
I really like XRP chart, as its one of the most healthiest acting chart in this whole market. Finding ressistance at one point and then finding support on it and acting stable, thats a sign of good demanded market.
What I mean by that.
After XRP was breaking out from 4400 sats to almost 12000sats, it found a ressistance zone at 9000, which is a good long known ressistance level. After second runup to 10500, Ripple has managed to find support in this zone, and has been acting stable in it even after a runup.
Currently is XRP in the accumulation phase, hovering between 8500 and 9000.
XRP price will hover for another while in this price, as I suggested in my previous XRP analysis.
The future of XRP token.
XRP is acting very strong and healthy in such despair market, when touches major support, a bounce is seen. By the looks of it, XRP may remain in uptrend for a longer period of time, I am still buying more of XRP and pushing my portfolio into this coin/token.
Only thing which would not mean a good end, is XRP breaking below 8500 with no bounce.
Lets look at Indicators in the last place.
Volume, currently in accumulation phase where you can see XRP have similiar Volume, waiting for another possible wave.
MACD, is pretty clear and healthy, no crazy changes, follows trend accurately. Currently uptrending, cross above neutral macd level would be a strong bullish sign, curious to see.
RSI, the demand is really good, even after such runup. I managed to find 52.5 RSI level as the main support/ressistance level, not considering 60 and 40.
If you would like me to post some updates, let me know in comments or Agreeing with my idea.
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:
Hourly update, riding on uptrend, macd is on selling wave but sees some uptrend, hard to maintain. Note how even here the 52.5 plays significant role in RSI. 9000 is current ressistance.
