As we know there is a lots of talk around the traders for XRP, few are bullish by calling the price as bottom while few are still bearish.
Let's have a look at charts with some indicators.
At first one must notice that the bigger time frame(1D chart) is showing that the XRP is in descending triangle pattern(shown in chart with blue lines) according to the triangle the bottom price is around $0.277.
Now lets talk momentum:
EMA cross
EMA cross is showing us continuation of falling prices for medium term.
Following this scenario price behavior should go to the down around $0.29 before a turn around.
Here possibly we can see a low wick to the down in attempt to touch the bottom of the triangle, if the price needs to go higher in short term.
Key Level
Short term price may bounce back to $0.36 - $0.37, but momentum will be still bearish.
If we break the resistance around $0.46(triangle breakout), we can expect a bull trend.
I haven't gone with trend lines, this analysis is based on a few reliable indicators(EMA cross,MA, ichimoku cloud, support and resistance).
REMEMBER : Use your analysis before pressing LONG/SHORT, you are the owner of your mind and it is your money.
If your idea(s) matching with this analysis you're good to go. :)
If you found it useful, do not forget to hit thumbs up button. :)
Best Wishes
Let's have a look at charts with some indicators.
At first one must notice that the bigger time frame(1D chart) is showing that the XRP is in descending triangle pattern(shown in chart with blue lines) according to the triangle the bottom price is around $0.277.
Now lets talk momentum:
EMA cross
EMA cross is showing us continuation of falling prices for medium term.
Following this scenario price behavior should go to the down around $0.29 before a turn around.
Here possibly we can see a low wick to the down in attempt to touch the bottom of the triangle, if the price needs to go higher in short term.
Key Level
Short term price may bounce back to $0.36 - $0.37, but momentum will be still bearish.
If we break the resistance around $0.46(triangle breakout), we can expect a bull trend.
I haven't gone with trend lines, this analysis is based on a few reliable indicators(EMA cross,MA, ichimoku cloud, support and resistance).
REMEMBER : Use your analysis before pressing LONG/SHORT, you are the owner of your mind and it is your money.
If your idea(s) matching with this analysis you're good to go. :)
If you found it useful, do not forget to hit thumbs up button. :)
Best Wishes