quantguy
Long

Ripple Recovers Slightly

BITSTAMP:XRPUSD   XRP / U.S. Dollar
Stellar Lumens has gained some traction on Sunday as well. It too rejected the lower bound of the KRI , which is confirmed by a green triangle on Sunday's candle. This rejection seemed to occur at $0.265, a technical level near the psychologically significant $0.25. Beyond that, we have $0.23, and then we must consider levels in the $0.10 handle, starting at $0.19. From above, we have $0.28, $0.30, and $0.312. After that, we will have further resistance in the $0.30 handle which is not encouraging. The Kovach Momentum Indicators are bearish at all levels, except for the OBV on day charts, which has diverged from price for some time now. This suggests a breakout is nigh, but we aren't holding our breath.

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Mar 12
Comment: Forgive the confusion! This is the text for the wrong coin!

Ripple found support at the lower bound of the KRI, rejecting the indicator and lows in the $0.70 handle. This is confirmed by a green triangle on Friday's candle, which seems to be a theme lately. The Kovach Momentum Indicators are still bearish but do appear to be picking up. Compared to previous price action, XRP has been comparatively ranging since February which makes Elliott Wave analysis difficult at the moment. We could be continuing the corrective phase from before, or in the midst of the next impulse. Currently at $0.82, we have support from below $0.79, $0.74 and $0.70. From above, we have a fairly dense collection of levels, from XRP's ranging. These are concentrated in the $0.80's, and are spaced apart almost to the penny at $0.82, $0.83 and $0.85.
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