Monzima

Xrp bigger picture

BITSTAMP:XRPUSD   XRP / U.S. Dollar
We are only a few days out from the close of the monthly candle. April was a bullish month for Xrp, made a lot of gains with an almost parabolic move.

As green as all those weekly and daily candles were, the monthly chart has its own story to tell.
This is not to say XRP does not have legs to keep rallying, is the most likely outcome, I have serious doubts.

Price is reaching for 0.22, I expect it tap that point or slightly deviate above it before pulling back slightly.
On the monthly chart that movement would create the high of the month and the close of the body of the monthly candle.

If you consider the anatomy of a candle. If we're expecting bullish month ask yourself how the candle will look.
Price opens, moves down to create the low of the month, price will then rally move past the open and create a body to the upside.

I expect this type of movement next month.

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Interesting technicals, here is my overall TA on the current subject
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Monzima VincePrince
@VincePrince, if I understand correctly we are both bearish, just not from the same levels.

I agree with your broader outlook, I just see it playing out a bit differently. Check out my latest post.

0.22 has been met and now I expect price to reach back down to pick up orders and create a higher low.
I try to keep my charts as clean as possible, hopefully they can help.

If you have any questions, I would be happy to answer.
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