Scenario A - Price of XRP continues to appreciate from where it is currently.
Scenario B - Price falls into demand area and rallies to new highs.
See callout bubbles. Always measure your risk and be okay with being wrong ; ) Wait patiently and get the price that you want. Use the market. Don't let the market use you.
Interesting long term analysis on XRPUCSD! We went for a shorter term view on our analysis and have identified key resistance and support levels. Currently, prices are approaching our first resistance at 0.5277 which is made up of a horizontal swing high resistance, 61.8% Fibonacci extension and a 61.8% Fibonacci retracement. Stochastic is approaching resistance at 88.12% where we might see a corresponding drop in price. If a potential drop does occur, we might want to look at 0.4489 support level which consists of horizontal overlap support, 100% Fibonacci extension and a 61.8% Fibonacci retracement. Looking forward to see how things develop.
Please have a look at our idea and we would like to hear your thoughts.
Simple_Renko
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@easyMarkets, Thank you for sharing your idea! I can agree with your idea that XRP may depreciate in the short-term, however, because of where price is on the bigger picture, my long-term bias is Long XRP. On the D, W, M charts, price is in the vicinity of some major demand and I would therefore expect price to appreciate from where it is on the bigger picture.
JacobKubaRybicki
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Rsi is building nicely since July too higher lows as the decline came making a "rsi convergence", with vol increase as well! Looking strong. Daily is good too recent above 10 ema going over 50 and 180emas
Please have a look at our idea and we would like to hear your thoughts.