Trading-Guru

Don't Go Overboard with XRP - Use This Clean Set-up!

Long
BITSTAMP:XRPUSD   XRP / U.S. Dollar
In this technical analysis I share my current views on XRP/USD. I tried to make the chart as self-explanatory as possible, but feel free to reach out or drop a comment if you have any questions.
Comment: I decided to change the outlook of this idea. The entire market is moving upwards a bit over the past few hours and it seems like many assets are about to make a bullish continuation.

Here is where I present my next idea:
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Comments

i agree with your btc chart....but xrp will go 0.36 anf then 0.45
+2 Reply
Trading-Guru jamshaid883
@jamshaid883, 0.36 seems a bit low if you look at the horizontal zone here. Don't you think it can go to at least .375 if it breaks through resistance? Same with the .45 region, I drew my resistance a bit higher towards .46 even. What did you use to get to those numbers?
+1 Reply
All I can see is price making higher highs under the resistance.
+1 Reply
@TraderNP, I think you are right. I decided to revisit this idea and turn it into a potential long if it breaks through the resistance:
+1 Reply
excellent trade setup. for sure bears reign supreme in XRPUSD.
eventually it's going to zero.
+1 Reply
Trading-Guru ProjectSyndicate
@ProjectSyndicate, I'm hoping to get some nice scalp trades in before that happens!
Reply
Andrewcx ProjectSyndicate
@ProjectSyndicate Can you make a prediction for XRPUSD? I want to fill my bag with XRP, but I don’t know where the bottom can be. Thank you! 🙂
+2 Reply
No. What analysis. Wrong
Reply
)Prices have been below the MA the downside (actually all the way to $0.17) is therefore greater than the upside, I agree. But I think when the breakout occurs, the institutional volume will be so fast it will tear the resistance you have shown easily. This will correlate with a massive slide in BTCUSD. Retail traders don't have enough time to place buy orders except market buy and by the time that is concluded it will be at the top of the buying climax before it ranges again. I disagree there will be gradual higher highs and higher lows now but only after that sudden spike during consolidation.
Reply
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