alanmasters
Long

Ripple Vs the US Dollar Full Analysis (Another Bitcoin Chart?)

BITFINEX:XRPUSD   XRP / U.S. Dollar
Here we have the daily chart for Ripple (XRPUSD) and this one also looks like just Bitcoin ( BTCUSD ).
Prices are now challenging EMA50, just like is happening with Bitcoin , and we also have a slow but steady recovery after the March 2020 strong drop .

But, what happens next?

What happens next is for the market to decide, but I can share with you what the chart is saying right now!

  • With prices now safely trading above EMA10 ( bullish ) and challenging EMA50 with bullish indicator (Strong RSI and bullish MACD ), XRPBTC can easily continue higher.
  • The next immediate resistance is sitting at $0.21392, which is marked on this chart by EMA100.
  • If 0.19553 gets conquered (EMA50), then we will hit EMA100 and higher... Our main target on this chart is MA200 at $0.23715.

Conditions for change

We know that charts are always changing and this analysis only reflects what is happening at the time of writing... So here is how this chart can change.

  • If prices move and close below EMA10, we lose the bullish momentum and the bears start to gain more control.
  • If the last low is broken, $0.11004, with good strength and volume , this analysis becomes invalid and prices can easily drop more.
  • If the last low is hit with a long-wick and prices move back up... We take it as a positive signal and remain bullish after the drop .
    Thanks a lot for reading my friend.

    I love you so much for your time, your attention and your amazing and continued support.

    Namaste.
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Comments

Thank you for sharing, I wanted to show you my chart. I see a break up in the short term, followed up with the final drop to .03-.04. This is very posible, My first target was .15 and it smashed it to hit .11. XRP has been on my radar for 3 years. I have been short sense $2.20, I was fortunate. I will enter back at my final target. This information is not finacial advise...Its for my personal education. I am looking to learn from my TA. Thank you Alanmaster for your post, I enjoy your content.
+3 Reply
alanmasters Bluechipinvestments
@Bluechipinvestments, Great, thanks a lot for sharing.

It really helps.

Namaste.
Reply
Missed the breakout, if it pulls back to 0.19ish area, should be good place to long?
+1 Reply
alanmasters tradingwookie
@tradingwookie, Depends on your risk tolerance and goals.

You can buy if you are looking at mid-term, but more information is necessary to recommend any buy/sell, it is up to you depending on your plan and trading.

All of my trades have targets and stop-loss.
Reply
100000%% Wrong plz dont eat weekers money
Reply
alanmasters King_Sultan
@King_Sultan, What is weekers?
Reply
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