XRP BRIEF INTRA-DAY BREAKDOWN
Since giving the long call for XRP at 0.28$ and stating that this will hold as a firm floor, we have seen the spike to just below our initial stated final target for XRP at 0.41 (we only spiked to 0.405$ in reality) and thus our target was not fully achieved. This is just an update of the situation, in line with our BTC analysis.
What can we see on the daily charts for XRP ?
- We can see that we had a rejection from 0.405$ after completely demolishing all our upward targets thus far. Now, looking at the daily, we can see that if we close above 0.38280$ at the end of the day, then its very likely that we will certainly go on to test the 0.43$ previous price floor and that should temporarily hold as a price ceiling for XRP. It is possible that we can/will be able to see wicks to as high as 0.45$ and in reality this would be good from a TA perspective because it would mean a rejection from 200 ema on the DAILY timeframe.
- Looking at our momentum indicators on the daily such as RSI, we can see that we have successfully seen rejections from the thick blue trend line drawn on RSI and we are due to meet that line on daily RSI at the 83 level. None the less, we can see that on RSI/ROC we are near a previous blue trend line, which was previously a supporting structure that was broken downwards of and should now hold as a ceiling structure to knock us back down to at least 54 level on RSI/ROC in reality and if this level does not hold, then my initial thoughts of a meltdown from 0.45$ to 0.25$ could well be true as support would only be found at the 47-40 level on daily RSI/ROC.
What can we see on the 4 HOURLY charts for XRP ?
- We can see that all momentum indicators such as RSI/ROC are at resistance levels currently and XRP is really trying to hold on to the 0.377$ support level. None the less, I believe our RSI/ROC indicator will break down as will price and we will see this indicator on the 4 hourly charts break down to the 60 level in order to use the blue trend line on this indicator as support and it has historically held up as a support and resistance zone. This should correlate with support being found at 0.36-0.35$ from a downward break at 0.40$. On RSI stand alone momentum indicator, we can see that real support zones lie at the 45 level on RSI for the 4 hourly - again more reason for a meltdown to 0.36$ before an upward test of 0.41$-0.43$ with 0.43$ as a conservative target on the intra-day and 0.45$ being an unconservative but common sense target because EMA lies there on the daily.
- Lastly, why 0.36 as expected support…. Simply because EMA 200 on 4 hourly chart is showing support at this level and thus anyone in the trade from 0.28$ SHOULD PLACE SL IN PROFIT FOR THIS TRADE AT 0.35-0.34$.
What can we see on the 1 HOURLY chart for XRP ?
- On the 1 hourly chart for XRP we can see that XRP is holding on to final straws of support at 0.366$ with weak bearish candlesticks.
- We can also see that we have been rejected from the 60 level on RSI/ROC and this level is known to be a resistance which knocks us back down to the infamous support zone on 1 hourly RSI/ROC at 40-47 level! Again correlating with our top down analysis and when price reaches this accumulation zone on the hourly, we will probably be at 0.36$. We can also see that RSI is making its way to support levels at 29 RSI level and here we should find upward support again.
- On the hourly, we can see that REKT could be caused with a retest of 0.39$ before slight meltdown to 0.36$ as RSI/ROC currently showing tendency to do repetitive retests of 60 level before rejection to 40-47 level on this indicator.
Big question of the day for XRP - is 0.52$ possible from our 0.28$ entry ?
- Definitely, this will be confirmed with a break of 0.43-0.45$ resistance zone and previously this range (specifically 0.43$ was a price floor and now should hold up well as a price ceiling) but if BTC tests our maximum upward targets of 4.4-4.7k, then it is possible for a retest of previous highs at 0.52$ before any significant crash to our next downward target of 0.25$ comes.
- What is the only thing stopping us ? DAILY SEEMS VERY FATIGUED ON THE DAILY CHARTS AND MOMENTUM INDICATORS SEEM EXHAUSTED AT THE MINUTE.
- THIS ALL TELLS US THIS AINT NO BULL RUN, THIS IS ALL MEDIUM TERM UPWARD MOVEMENT BEFORE THE NEXT SALE IN PRICE.
PLEASE SEE RELATED IDEAS DOWN BELOW ;) & don't forget to stay up to date with our calls by following our Instagram and telegram channels down below AND ON OUR TRADINGVIEW PAGE - CALL AFTER CALL CORRECT!
Since giving the long call for XRP at 0.28$ and stating that this will hold as a firm floor, we have seen the spike to just below our initial stated final target for XRP at 0.41 (we only spiked to 0.405$ in reality) and thus our target was not fully achieved. This is just an update of the situation, in line with our BTC analysis.
What can we see on the daily charts for XRP ?
- We can see that we had a rejection from 0.405$ after completely demolishing all our upward targets thus far. Now, looking at the daily, we can see that if we close above 0.38280$ at the end of the day, then its very likely that we will certainly go on to test the 0.43$ previous price floor and that should temporarily hold as a price ceiling for XRP. It is possible that we can/will be able to see wicks to as high as 0.45$ and in reality this would be good from a TA perspective because it would mean a rejection from 200 ema on the DAILY timeframe.
- Looking at our momentum indicators on the daily such as RSI, we can see that we have successfully seen rejections from the thick blue trend line drawn on RSI and we are due to meet that line on daily RSI at the 83 level. None the less, we can see that on RSI/ROC we are near a previous blue trend line, which was previously a supporting structure that was broken downwards of and should now hold as a ceiling structure to knock us back down to at least 54 level on RSI/ROC in reality and if this level does not hold, then my initial thoughts of a meltdown from 0.45$ to 0.25$ could well be true as support would only be found at the 47-40 level on daily RSI/ROC.
What can we see on the 4 HOURLY charts for XRP ?
- We can see that all momentum indicators such as RSI/ROC are at resistance levels currently and XRP is really trying to hold on to the 0.377$ support level. None the less, I believe our RSI/ROC indicator will break down as will price and we will see this indicator on the 4 hourly charts break down to the 60 level in order to use the blue trend line on this indicator as support and it has historically held up as a support and resistance zone. This should correlate with support being found at 0.36-0.35$ from a downward break at 0.40$. On RSI stand alone momentum indicator, we can see that real support zones lie at the 45 level on RSI for the 4 hourly - again more reason for a meltdown to 0.36$ before an upward test of 0.41$-0.43$ with 0.43$ as a conservative target on the intra-day and 0.45$ being an unconservative but common sense target because EMA lies there on the daily.
- Lastly, why 0.36 as expected support…. Simply because EMA 200 on 4 hourly chart is showing support at this level and thus anyone in the trade from 0.28$ SHOULD PLACE SL IN PROFIT FOR THIS TRADE AT 0.35-0.34$.
What can we see on the 1 HOURLY chart for XRP ?
- On the 1 hourly chart for XRP we can see that XRP is holding on to final straws of support at 0.366$ with weak bearish candlesticks.
- We can also see that we have been rejected from the 60 level on RSI/ROC and this level is known to be a resistance which knocks us back down to the infamous support zone on 1 hourly RSI/ROC at 40-47 level! Again correlating with our top down analysis and when price reaches this accumulation zone on the hourly, we will probably be at 0.36$. We can also see that RSI is making its way to support levels at 29 RSI level and here we should find upward support again.
- On the hourly, we can see that REKT could be caused with a retest of 0.39$ before slight meltdown to 0.36$ as RSI/ROC currently showing tendency to do repetitive retests of 60 level before rejection to 40-47 level on this indicator.
Big question of the day for XRP - is 0.52$ possible from our 0.28$ entry ?
- Definitely, this will be confirmed with a break of 0.43-0.45$ resistance zone and previously this range (specifically 0.43$ was a price floor and now should hold up well as a price ceiling) but if BTC tests our maximum upward targets of 4.4-4.7k, then it is possible for a retest of previous highs at 0.52$ before any significant crash to our next downward target of 0.25$ comes.
- What is the only thing stopping us ? DAILY SEEMS VERY FATIGUED ON THE DAILY CHARTS AND MOMENTUM INDICATORS SEEM EXHAUSTED AT THE MINUTE.
- THIS ALL TELLS US THIS AINT NO BULL RUN, THIS IS ALL MEDIUM TERM UPWARD MOVEMENT BEFORE THE NEXT SALE IN PRICE.
PLEASE SEE RELATED IDEAS DOWN BELOW ;) & don't forget to stay up to date with our calls by following our Instagram and telegram channels down below AND ON OUR TRADINGVIEW PAGE - CALL AFTER CALL CORRECT!
