XRP Ripple Still at a Turning Point

XRP is still making what looks like a halve baked upwards breakout. Still no volume during the upwards movement, but looking back at the past few days the volume won't kick in until the red resistance breaks around the 0.47ish.
I kept warning for the low volume breakout the past few days and eventually we saw the price drop again because of that. As we can see, the price got support exactly from that trend line again and now we see a good move up again where the bulls are giving it another try. But once again, there is no volume. So still a dangerous play here, safest is a break of that red resistance zone. If that happens and we see Bitcoin get above the 6400/6500 (USD exchanges) i expect the 0.55/0.6 target to get reached


Previous analysis:

Comment:

XRP finally broke that red resistance zone making a good step forward. Compared to other Alts it's not showing a lot of conviction though when looking at the price jump and the volume. But it could still come at a later stage.
For now i want to see it stay above that green support on the right chart.

Comment:

XRP has made another small rally after finding support from the previous red resistance zone. Volume is increasing a bit on the daily as well which is a good sign, but still nothing big though. Another correction is still possible to test the red zone again.

I am moving stop towards today's low for an "free" trade.

Trade closed: target reached:

XRP has made a big rally with a sideways Bitcoin. Target has been reached to the point :) I would not get greedy here, target is a target. Never bad to keep a portion (20/50%) with a tight trail stop. But don't hang on to it and start to HOPE, because you won't sell if it drops again, because than you will wait until it becomes a loss again.

Comment:

Good example of how painful greed can be. I will make a new analysis later today, for now my thoughts are for a small channel towards that green support where we can try and buy again. But i am waiting for some confirmation first.

Comment:

Bounced up from that support zone i showed, nothing big so far though. Bigger picture i see 2 scenario's, a big inverse H&S play. Only way this works is a strong, fast and high volume move up to the neckline. Other scenario is a weak move up and continue to drop again. For coming days, i expect another test of the support zone.

I will make a new analysis later today.

Comment:

www.tradingview.com/chart/fPU7jsf3/