XRP continues to oscillate within this triangle/bull flag awaiting a move in either direction. We are currently stuck in a supply zone and have remained here for the majority of the week indicating consolidation before volatility resumes and we get a break in either direction.
RSI does seem to be testing resistance again, which does show some bullish pressure while MACD currently remains totally flat. It might be too soon to call a direction, therefore waiting for Bitcoin to move might be the smart play here.
Thanks guys!
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XRP has tried testing the upper resistance but has come down yet again. RSI is trying to break out here so something to keep an eye on!
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The RSI wanting to test higher was an indication that there might have been some juice left in the tank and XRP did in fact break and test higher twice before failing and moving back down testing the demand zone around $0.53.
I just want to thank you so much on these daily xrps breakdowns. Im really greatful for you brother keep it up!! keep up with the btc / xrp calls they are awesome :)
CM_Trades
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@aloushka37, thank you very much! appreciate the kind words and will continue to post charts on xrp and many others!
aloushka37
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@Crypto_Terminal_Chris, No problem!
ReeceHayner
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The 4hr macd is extremely bullish and the lower time frames have almost all had a macd cross, do you think we will break out in this next 4hr candle?
CM_Trades
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@ReeceHayner, yes true but any breakdown here by Bitcoin will negate any type of bullishness shown in the charts. BTC is king an as long as its weak or looks weak will affect everything else.