XRP - Safe to the Upside?

Now for our favorite alt that gets to play with the big boys now in daily analysis. XRP is really the coin everyone's banking on to make them rich, or dreading will make them beggars as we've been reporting on for sometime now.

So here's the skinny on XRP. We're flat in a consolidation range. We have respected the daily high and daily low on closing basis. Our daily low that we need to break below is .45365 and our daily high that we need to close above is .45895. Price is trying to make a college try at establishing a new daily high.

RSI is fairly flat, however we're flat above the 50 line which is slightly bullish. The Fisher is looking to bottom above zero, which is bullish also. Let's us know that the uptrend is likely going to continue. We see an increase in longs and a decrease in shorts, and we're in consolidation so we're looking for break to the upside with volume to confirm it.

If you're looking to buy into consolidation, I'd say XRP is safe to the upside from here. We're also consolidating at the magic .618 Fib retracement from the local high and local low, a good sign especially as you can see we were oversold at the .786. I expect the bulls to try to hold this position and we'll see if volume comes into support the movement.

I'm not seeing significant resistance until around .50, and if we break towards that I'll be watching to see if the cloud resistance holds. It's quite a thin cloud, and when the cloud is thin we're not expecting it to hold back a flood of buyers. Only time will tell everybody, in the meantime I think the alt-coin markets are juicer to trade right now.