Hi friends! Welcome to this update analysis on Ripple! let's get right to it. Looking at the four hour chart, you can see that XRP has formed a large bear flag, right on top of the ascending trendline support. The 20 EMA (in blue) continues to act as overhead resistance, and the rising black trendline has already been violated on multiple occasions. The repeated violations of the black trendline are weakening it as support, and the fact that we are in a large bear flag, with falling overhead resistance, makes a breakdown appear inevitable. The dotted line that is projected from the bottom of the bear flag, represents a correction to the full potential of the flag. You can see that the projection is much deeper than the low that was formed on 2/6. However, we can use the 2/6 low, at about 0.57, as our initial target. Interestingly, the projection of the bear flag reaches the exact capitulation low of 12/22. Keep an eye on the flag, and watch for a breakdown in the near future. I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic. Au revoir.
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***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
agree! I expect .25 - .3 as a final retracement price
DrJLT
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@alexpolynov, back to 25 cents where I sold mine :D
Ecua_Trader
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Poops. you are bear I am still bull haha 9 hours ago and my chart a couple of days. Guess who keeps on making money lol
jimmysmalls
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@ChartsOnTime, but this is for xrp??
Ecua_Trader
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@jimmysmalls, yeah. All his charts looks the same and if you don’t understand ltc bch Eth xrp follow btc chart, I would recommend thinking your investing strategy. :)
cryptomaster1
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Hi another insightful TA thank you , can you share what is the best setting on RSI and Stochstic in your option .