XRP - Long-Term View!

XRP / U.S. dollarBitstamp

Description

⋅ Sep 30, 2022 3:16 PM

Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.

XRP has been overall bearish trading inside the falling brown channel.

We are currently retesting the upper brown trendline and 0.55-0.6 resistance zone.

For the bulls to take full control, and expect a long-term bullish movement, we need a weekly candle close above 0.6

Meanwhile, the bears can kick in for one more bearish movement inside the channel before the breakout upward.

Which scenario do you think is more probable and why?

Always follow your trading plan regarding entry, risk management, and trade management.

Good luck!

All Strategies Are Good; If Managed Properly!
~Rich

Comments

MoonBag

⋅ Sep 30, 2022 4:46 PM

A one week time frame? Charts on XRP are pretty much useless. I have a long open, let's see what the day brings. On the 1 week, moving avg has crossed over, MACD looks good. Still too much known manipulation to rely on the charts.

TheSignalyst

⋅ Sep 30, 2022 7:31 PM

@MoonBag, thank you for sharing your view. I disagree. XRP weekly chart is very clean. look at the previous rejections (arrows) I have traded these arrows previously and also the rejection from 0.3

but yeah, I agree regarding manipulation

yonsfx

⋅ Oct 1, 2022 4:44 PM

Amazing signalyst

Solldy

⋅ Oct 1, 2022 2:17 PM

There are doubts about the zones that can meet the price during the movement, so I think it is worth waiting for new arguments or fixation for the continuation of the movement.

UnknownUnicorn15614419

⋅ Oct 1, 2022 1:50 PM

Amazing

KABHI_FOREX_TRADING

⋅ Oct 1, 2022 3:56 AM

Great analysis bro..Nice

AkhiPrajapati

⋅ Sep 30, 2022 5:56 PM

Nice outlook