XRP-BTC 21-4-2019 (6076 sats)
The yellow lines are support and resistance. Now trading at support. In my Opinion small support only created with a few candles. The 0.168 even looks as resistance.
I did read all the Ideas on XRP and they are all positive. Now I want to go against that.
Yes the daily RSI is oversold but it still has room to go. As of lately every daily pump of the price is followed by slowly going lower.
All moving averages give a sell signal. Only the RSI says buy. I don’t see any indicator being reliable on the daily. Or maybe it is the 21 day moving average, acting as resistance for many weeks!
My target is the 0.786 fib level at 5500 sats and maybe next 5300. If XRP were to rise, I see some resistance already at the 0.618 FIB at 6550 sats.
I do agree with some one saying “if XRP goes up it can go fast and hard. Well if that were to happen it should break the 0.5 FIB level at 7500 sats with some volume. That would be a bullish signal.
Conclusion: going down is more likely and the upside potential short term is small.
If this support holds than things get more clear.
The yellow lines are support and resistance. Now trading at support. In my Opinion small support only created with a few candles. The 0.168 even looks as resistance.
I did read all the Ideas on XRP and they are all positive. Now I want to go against that.
Yes the daily RSI is oversold but it still has room to go. As of lately every daily pump of the price is followed by slowly going lower.
All moving averages give a sell signal. Only the RSI says buy. I don’t see any indicator being reliable on the daily. Or maybe it is the 21 day moving average, acting as resistance for many weeks!
My target is the 0.786 fib level at 5500 sats and maybe next 5300. If XRP were to rise, I see some resistance already at the 0.618 FIB at 6550 sats.
I do agree with some one saying “if XRP goes up it can go fast and hard. Well if that were to happen it should break the 0.5 FIB level at 7500 sats with some volume. That would be a bullish signal.
Conclusion: going down is more likely and the upside potential short term is small.
If this support holds than things get more clear.