XRP TO CAUSE A RIPPLE TO 0.377$ BEFORE DEATH TO 0.34$
XRP INTRA-DAY BREAKDOWN
WHAT HAS HAPPENED SINCE OUR LAST XRP INTRA-DAY BREAKDOWN ?
‘’Conclusions
- Ok, this analysis is here to make you aware of the dynamics of price currently and what to expect. We know that we could possibly get a bull move after finding support at 0.35$ all the way to 0.43-0.45$. Now, its your choice to choose whether this risk:reward is suitable considering you have been long from 0.28$.
- Close your trade at current price and buy back cheaper with tight SL :)
- Regardless, the analysis will play out. ‘’
These are the conclusions made from our most recent intra-day breakdown for XRP, and we will review them momentarily.
Well, it was stated that from near the 0.40$ level that it would be wise to close your longs and that we would be seeing a reduction in price to 0.35$ and at this price you could buy back XRP or LONG XRP once again to a target of 0.43-0.45 but what was only achieved was 0.398$ or otherwise 0.40$ (the point where I previously stated close your trade and buy back at 0.35$ and then go long again to 0.43-.45$).
NOW MOVING ON, WE WILL LOOK AT OUR USUAL TOP DOWN ANALYSIS FOR XRP WITH A TWIST.
WHAT CAN WE SEE ON THE DAILY CHART FOR XRP ?
- Well, we can see that after finding support once more at 0.36$, we are currently facing resistance at 0.37$. We can see on our price chart that EMA 200 on the daily is currently at 0.45$, thus we can completely take the 0.52$ target out of our heads for the minute. The next move looks like it will be a drop to 0.34$ at the minimum before any supporting action is found again. Moreover, on our price chart, we can see that this ascending wedge like structure has been broken out of slightly and thus far we have seen multiple retests of previous support trend line as resistance on two consecutive days.
- On our momentum indicators, we can see that RSI is being used as support on the 50 level at the daily charts and historically at this level we have gained support from ascending trend line. This tells us there could be a potential retest of 0.377$ before any real bearish activity begins. Lastly, on RSI/ROC, we can see that we have used previous supporting trend line on the daily as resistance since making highs at 0.47$. It is highly likely that we see a drop back into supporting zone of 39-47 level RSI/ROC on the daily chart.
- Looking at the Heikin ashi candle sticks, we can see that there has been consecutive days of indecision from the bulls since 24 December and since that date the bears have held price below 0.39$ ceiling. Moreover, it looks like we are heading for our supporting trend line on RSI/ROC indicator on this chart setting. Therefore, we may conclude that it is possible at only a drop till 0.34$ level is plausible and even a break of this level will mean a break of this whole supporting trend line trend. REMEMBER WE DO NOT USE THIS CANDLESTICK SETTING TO MAKE TRADING DECISIONS BUT RATHER TO ESTIMATE MOMENTUM AND WHEN MOMENTUM IS REDUCING OR INCREASING, WHEN TO EXIT A TRADE, AND ALSO TO CONFIRM OUR GENERAL BIASES FROM OUR USUAL SET UP. How to efficiently use this whole set up will be included in our trading guide.
WHAT CAN WE SEE ON THE 4 HOURLY CHART FOR XRP ?
- Well, we can see on our price chart we are currently using EMA 200 as resistance and that bulls are loosing momentum after two retests of previous supporting trend line. It could possibly be said that an increase to 0.377$ before a meltdown in completely plausible in order to fill wicks in price to this level and consolidate its place as a resistance level. Moreover, we can see on our price chart that MA is currently being used as support very weakly, and thus the reason why we should take a short from 0.377-0.38$ ceiling. Lastly, its important to add the fact that higher lows are being created throughout the 4 hour chart and this is a signal of bullish momentum. NONE THE LESS, ITS IMPORTANT TO NOTE THAT IF ANY BULLISH ACTIVITY IT WILL BE CAPPED TO 0.385-0.39$ AT THE MINUTE DUE TO DOWN TREND LINE ON INTRA-DAY FROM 0.41$, WHICH IS HOLDING VERY WELL.
- Looking at our momentum indicators such as RSI, we can see that we are currently at a resistance point and a retest of the 29 level on RSI could be evident on the 4 hourly charts. We can also see following consecutive rejections from just below the 60 level on RSI/ROC, we are currently at previous resistance zone of 47 and I fully expect a break of this level down to 39-40 level RSI/ROC. EITHER OF THESE SHOULD CORRELATE WITH A DROP TO 0.34$ AT THE MINIMUM TO FIND SUPPORT. Lastly, in line with the fact that we are seeing a descending style in every high created, we are also seeing descending price action from both of our momentum indicators and this a drop may be necessary for a break to the upside as stated many times in this breakdown.
- Looking at HIEKIN ASHI styled candles, we can see that after making lows to 0.355, we saw the bears lose momentum and the bulls attempt an increase in price to 0.377$. Now the bulls are running out of momentum and we can expect a break of 0.355$. But, I fear this may only come after an increase to 0.377$ due to the fact MA holds strong confluence over XRP price action and currently its being used as support, but the fact that we are seeing weak candles should implicate a switch in trend back to the bears and this higher high formation could be completely broken. The idea of an increase to 0.377$-0.38$ taking place before this drop is further strengthened by the fact we are at slight support of 47 level on 4 hourly and a retest of slightly below 60 level RSI/ROC could be in the play before a real break of 47 level and a journey to the 39 level support on RSI/ROC on 4 hourly chart. This is negated by the fact we are also seeing lower highs being created on RSI momentum indicator on the 4 hourly charts and this would suggest that a retest of 30 level RSI/ROC is intact possible and this combined with the weak KEIKIN ASHI bars suggests that the bulls are losing momentum in creating these higher lows.
WHAT CAN WE SEE ON THE HOURLY CHARTS FOR XRP ?
- We can see on the hourly charts for XRP that we are currently at resistance just below EMA 200 and barely holding onto the support given by MA. Moreover, we can see that our momentum indicators such as RSI/ROC have seen rejections from the 60 level and are currently heading towards 47 and 39 level supports on hourly RSI/ROC. It could be concluded from RSI indications that we may infact see support at 47 level briefly and see a rise to 70 level RSI on 1 hourly before drop may commence and this is in line with the idea that a meltdown would come after a rise to 0.377$ at the minimum. BUT THEREAFTER WE CAN EXPECT MELTDOWNS TO BELOW 39 LEVEL RSI/ROC AND SUPPORT BEING FOUND AT 30 LEVEL RSI AFTER A REJECTION FROM 70 LEVEL RSI.
- On our hiking ashi chart for hourly, we can see that the bulls are running out of momentum on the hourly charts from our price action chart. It is possible that price continues to edge up slightly to the places I suggested but ultimately we will see a massive reversal to 0.34100 at the MINIMUM. We can also see that there is a divergence on RSI/ROC and RSI indicators on the hourly thus a big move is near. I suspect because of the fact that 47 level usually acts as support slightly after retest then I would suggest this diversion for the minute could define the small gains to the upside before the big gains to the downside in order for RSI to reach 70 level.
TO CONCLUDE:
- EXPECT SLIGHT BULLISH ACTIVITY TO 0.377-0.38$
- THEREAFTER, EXPECT A DROP TO 0.34100$ AT THE MINIMUM.
- AT 0.34$ THERE COULD BE SUPPORT FOR US TO RETEST 0.41$ (MORE REALISTICALLY 0.39$ ONE MORE TIME).
- THE BULLS ON XRP ARE RUNNING OUT OF MOMENTUM IN GENERAL AND UPWARD TARGETS IN THE LONG TERM SUCH AS 0.45 CAN ONLY BE ACTIVATED BY PEGGED PAIR BTC FINDING SUPPORT AT 3427-3610$ AND GOING ON TO TEST NECKLINE AT 4.4K :)
ENJOY!
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!
WHAT HAS HAPPENED SINCE OUR LAST XRP INTRA-DAY BREAKDOWN ?
‘’Conclusions
- Ok, this analysis is here to make you aware of the dynamics of price currently and what to expect. We know that we could possibly get a bull move after finding support at 0.35$ all the way to 0.43-0.45$. Now, its your choice to choose whether this risk:reward is suitable considering you have been long from 0.28$.
- Close your trade at current price and buy back cheaper with tight SL :)
- Regardless, the analysis will play out. ‘’
These are the conclusions made from our most recent intra-day breakdown for XRP, and we will review them momentarily.
Well, it was stated that from near the 0.40$ level that it would be wise to close your longs and that we would be seeing a reduction in price to 0.35$ and at this price you could buy back XRP or LONG XRP once again to a target of 0.43-0.45 but what was only achieved was 0.398$ or otherwise 0.40$ (the point where I previously stated close your trade and buy back at 0.35$ and then go long again to 0.43-.45$).
NOW MOVING ON, WE WILL LOOK AT OUR USUAL TOP DOWN ANALYSIS FOR XRP WITH A TWIST.
WHAT CAN WE SEE ON THE DAILY CHART FOR XRP ?
- Well, we can see that after finding support once more at 0.36$, we are currently facing resistance at 0.37$. We can see on our price chart that EMA 200 on the daily is currently at 0.45$, thus we can completely take the 0.52$ target out of our heads for the minute. The next move looks like it will be a drop to 0.34$ at the minimum before any supporting action is found again. Moreover, on our price chart, we can see that this ascending wedge like structure has been broken out of slightly and thus far we have seen multiple retests of previous support trend line as resistance on two consecutive days.
- On our momentum indicators, we can see that RSI is being used as support on the 50 level at the daily charts and historically at this level we have gained support from ascending trend line. This tells us there could be a potential retest of 0.377$ before any real bearish activity begins. Lastly, on RSI/ROC, we can see that we have used previous supporting trend line on the daily as resistance since making highs at 0.47$. It is highly likely that we see a drop back into supporting zone of 39-47 level RSI/ROC on the daily chart.
- Looking at the Heikin ashi candle sticks, we can see that there has been consecutive days of indecision from the bulls since 24 December and since that date the bears have held price below 0.39$ ceiling. Moreover, it looks like we are heading for our supporting trend line on RSI/ROC indicator on this chart setting. Therefore, we may conclude that it is possible at only a drop till 0.34$ level is plausible and even a break of this level will mean a break of this whole supporting trend line trend. REMEMBER WE DO NOT USE THIS CANDLESTICK SETTING TO MAKE TRADING DECISIONS BUT RATHER TO ESTIMATE MOMENTUM AND WHEN MOMENTUM IS REDUCING OR INCREASING, WHEN TO EXIT A TRADE, AND ALSO TO CONFIRM OUR GENERAL BIASES FROM OUR USUAL SET UP. How to efficiently use this whole set up will be included in our trading guide.
WHAT CAN WE SEE ON THE 4 HOURLY CHART FOR XRP ?
- Well, we can see on our price chart we are currently using EMA 200 as resistance and that bulls are loosing momentum after two retests of previous supporting trend line. It could possibly be said that an increase to 0.377$ before a meltdown in completely plausible in order to fill wicks in price to this level and consolidate its place as a resistance level. Moreover, we can see on our price chart that MA is currently being used as support very weakly, and thus the reason why we should take a short from 0.377-0.38$ ceiling. Lastly, its important to add the fact that higher lows are being created throughout the 4 hour chart and this is a signal of bullish momentum. NONE THE LESS, ITS IMPORTANT TO NOTE THAT IF ANY BULLISH ACTIVITY IT WILL BE CAPPED TO 0.385-0.39$ AT THE MINUTE DUE TO DOWN TREND LINE ON INTRA-DAY FROM 0.41$, WHICH IS HOLDING VERY WELL.
- Looking at our momentum indicators such as RSI, we can see that we are currently at a resistance point and a retest of the 29 level on RSI could be evident on the 4 hourly charts. We can also see following consecutive rejections from just below the 60 level on RSI/ROC, we are currently at previous resistance zone of 47 and I fully expect a break of this level down to 39-40 level RSI/ROC. EITHER OF THESE SHOULD CORRELATE WITH A DROP TO 0.34$ AT THE MINIMUM TO FIND SUPPORT. Lastly, in line with the fact that we are seeing a descending style in every high created, we are also seeing descending price action from both of our momentum indicators and this a drop may be necessary for a break to the upside as stated many times in this breakdown.
- Looking at HIEKIN ASHI styled candles, we can see that after making lows to 0.355, we saw the bears lose momentum and the bulls attempt an increase in price to 0.377$. Now the bulls are running out of momentum and we can expect a break of 0.355$. But, I fear this may only come after an increase to 0.377$ due to the fact MA holds strong confluence over XRP price action and currently its being used as support, but the fact that we are seeing weak candles should implicate a switch in trend back to the bears and this higher high formation could be completely broken. The idea of an increase to 0.377$-0.38$ taking place before this drop is further strengthened by the fact we are at slight support of 47 level on 4 hourly and a retest of slightly below 60 level RSI/ROC could be in the play before a real break of 47 level and a journey to the 39 level support on RSI/ROC on 4 hourly chart. This is negated by the fact we are also seeing lower highs being created on RSI momentum indicator on the 4 hourly charts and this would suggest that a retest of 30 level RSI/ROC is intact possible and this combined with the weak KEIKIN ASHI bars suggests that the bulls are losing momentum in creating these higher lows.
WHAT CAN WE SEE ON THE HOURLY CHARTS FOR XRP ?
- We can see on the hourly charts for XRP that we are currently at resistance just below EMA 200 and barely holding onto the support given by MA. Moreover, we can see that our momentum indicators such as RSI/ROC have seen rejections from the 60 level and are currently heading towards 47 and 39 level supports on hourly RSI/ROC. It could be concluded from RSI indications that we may infact see support at 47 level briefly and see a rise to 70 level RSI on 1 hourly before drop may commence and this is in line with the idea that a meltdown would come after a rise to 0.377$ at the minimum. BUT THEREAFTER WE CAN EXPECT MELTDOWNS TO BELOW 39 LEVEL RSI/ROC AND SUPPORT BEING FOUND AT 30 LEVEL RSI AFTER A REJECTION FROM 70 LEVEL RSI.
- On our hiking ashi chart for hourly, we can see that the bulls are running out of momentum on the hourly charts from our price action chart. It is possible that price continues to edge up slightly to the places I suggested but ultimately we will see a massive reversal to 0.34100 at the MINIMUM. We can also see that there is a divergence on RSI/ROC and RSI indicators on the hourly thus a big move is near. I suspect because of the fact that 47 level usually acts as support slightly after retest then I would suggest this diversion for the minute could define the small gains to the upside before the big gains to the downside in order for RSI to reach 70 level.
TO CONCLUDE:
- EXPECT SLIGHT BULLISH ACTIVITY TO 0.377-0.38$
- THEREAFTER, EXPECT A DROP TO 0.34100$ AT THE MINIMUM.
- AT 0.34$ THERE COULD BE SUPPORT FOR US TO RETEST 0.41$ (MORE REALISTICALLY 0.39$ ONE MORE TIME).
- THE BULLS ON XRP ARE RUNNING OUT OF MOMENTUM IN GENERAL AND UPWARD TARGETS IN THE LONG TERM SUCH AS 0.45 CAN ONLY BE ACTIVATED BY PEGGED PAIR BTC FINDING SUPPORT AT 3427-3610$ AND GOING ON TO TEST NECKLINE AT 4.4K :)
ENJOY!
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!
Comment:
we will see a break of 0.28$ after seeing highs of 0.45$ achieved one more time. Thereafter, a break of 0.28$ leads to 0.25$ support and our final targets lay between 0.15-0.10$.
