As we mentioned in a recent analysis, XRP has been slowly gaining on Bitcoin the last month or so. XRP now approaches a significant area on the chart that has historically results in large upside. XRP is almost to the point of retesting the 100 day moving average level. We have outlined 2 previous times on the chart that XRP has tested this level and accepted it. Both times resulted in significant upside.
Aside from the 100 Day MA looking favorable here, you can also argue the MACD setups are almost identical to historical rallies after this resistance break. If you take a look at the analysis we linked above, you will see our rational for how XRP has slowly been building up to this favorable setup. This is the most bullish XRP has looked in a while in our opinion.
We will continue to watch the price here and see if the bull trigger can be pulled. Essentially XRP would need to accept that .29 level here in the short term in our opinion.
Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the crypto currency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal or accounting advice. This material has been prepared for informational purposes only and is the opinion of the author, and is not intended to provide, and should not be relied on for, investment, tax, legal, accounting advice. You should consult your own investment, tax, legal and accounting advisors before engaging in any transaction. All content published by Visionary Financial is not an endorsement whatsoever. Visionary Financial was not compensated to submit this article Please also visit our Privacy policy; disclaimer; and terms and conditions page for further information.
Aside from the 100 Day MA looking favorable here, you can also argue the MACD setups are almost identical to historical rallies after this resistance break. If you take a look at the analysis we linked above, you will see our rational for how XRP has slowly been building up to this favorable setup. This is the most bullish XRP has looked in a while in our opinion.
We will continue to watch the price here and see if the bull trigger can be pulled. Essentially XRP would need to accept that .29 level here in the short term in our opinion.
Notice: Information contained herein is not and should not be construed as an offer, solicitation, or recommendation to buy or sell securities. The information has been obtained from sources we believe to be reliable; however no guarantee is made or implied with respect to its accuracy, timeliness, or completeness. Authors may own the crypto currency they discuss. The information and content are subject to change without notice. Visionary Financial and its affiliates do not provide investment, tax, legal or accounting advice. This material has been prepared for informational purposes only and is the opinion of the author, and is not intended to provide, and should not be relied on for, investment, tax, legal, accounting advice. You should consult your own investment, tax, legal and accounting advisors before engaging in any transaction. All content published by Visionary Financial is not an endorsement whatsoever. Visionary Financial was not compensated to submit this article Please also visit our Privacy policy; disclaimer; and terms and conditions page for further information.
