XRPUSD IS A VERY GOOD INVESTMENT OPPORTUNITY RIGHT NOW
TAKING A LOOK AT XRP TECHNICALLY
XRPUSD HAS FORMED THE FLAG PATTERN WITH 2 BREAKOUTS AND RETESTS AND IS ALREADY IN A GOOD SUPPORT FOR BUY ENTRY
-XRP has retraced -44% from weekly highs of $0.65
-XRP is dangling above $0.415 support
-XRP has failed to break its downtrend line 5 times
XRP has went through a wild week as the SEC pre-trial came to no conclusion on the 22nd of February. Investors came to expect some positive news from the SEC lawsuit as XRP has failed to join this current bull run.
Ripple's XRP has retraced nearly -45% from highs of $0.65 cents set on the 22nd. XRP has failed to break crucial resistance zone of $0.64 cents 4 times in the last 3 months. This zone has proved to be the marker that holds XRP from a massive explosion to the upside.
The price of XRP has confirmed its 4 hour 200 MA as resistance showing the bulls are not in control just yet. Support of $0.415 is the last area to hold the price up before a major fall to crucial support of $0.36 zone.
To confirm a bullish move to the upside, XRP must break its downtrend line (diagonal black line) that it has failed to cross 3 times since the drop under $0.50.
In addition, the price of XRP has to cross the 4 hour 200 MA and confirm it as support, rather than the resistance confirmation that was just experienced.
Resistance of $0.45 would be the next stop for XRP to battle & experience a breakout to higher levels. This area has proven to be respected as a major S/R zone. For the price to be considered in a bullish uptrend, this level must become support.
The MACD histogram is signaling a possible red tick to the downside, when coupled with a break of support $0.415 can lead to a fall of -10% to $0.36. Inversely, the MACD MA's (blue and orange) are producing a curved bottom which can be seen as a bullish indication that the price is starting to change trends.
In conclusion, on the bearish view: If XRP cannot hold $0.415, a drop to $0.36 is very likely to occur. On the bullish view: If XRP can break its diagonal downtrend line (roughly $0.43) a bullish move to $0.45 is expected. This decision should happen within 48 hours.
TAKING A LOOK AT XRP TECHNICALLY
XRPUSD HAS FORMED THE FLAG PATTERN WITH 2 BREAKOUTS AND RETESTS AND IS ALREADY IN A GOOD SUPPORT FOR BUY ENTRY
-XRP has retraced -44% from weekly highs of $0.65
-XRP is dangling above $0.415 support
-XRP has failed to break its downtrend line 5 times
XRP has went through a wild week as the SEC pre-trial came to no conclusion on the 22nd of February. Investors came to expect some positive news from the SEC lawsuit as XRP has failed to join this current bull run.
Ripple's XRP has retraced nearly -45% from highs of $0.65 cents set on the 22nd. XRP has failed to break crucial resistance zone of $0.64 cents 4 times in the last 3 months. This zone has proved to be the marker that holds XRP from a massive explosion to the upside.
The price of XRP has confirmed its 4 hour 200 MA as resistance showing the bulls are not in control just yet. Support of $0.415 is the last area to hold the price up before a major fall to crucial support of $0.36 zone.
To confirm a bullish move to the upside, XRP must break its downtrend line (diagonal black line) that it has failed to cross 3 times since the drop under $0.50.
In addition, the price of XRP has to cross the 4 hour 200 MA and confirm it as support, rather than the resistance confirmation that was just experienced.
Resistance of $0.45 would be the next stop for XRP to battle & experience a breakout to higher levels. This area has proven to be respected as a major S/R zone. For the price to be considered in a bullish uptrend, this level must become support.
The MACD histogram is signaling a possible red tick to the downside, when coupled with a break of support $0.415 can lead to a fall of -10% to $0.36. Inversely, the MACD MA's (blue and orange) are producing a curved bottom which can be seen as a bullish indication that the price is starting to change trends.
In conclusion, on the bearish view: If XRP cannot hold $0.415, a drop to $0.36 is very likely to occur. On the bullish view: If XRP can break its diagonal downtrend line (roughly $0.43) a bullish move to $0.45 is expected. This decision should happen within 48 hours.
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