Hello guys!
I hope you've been able to get the best out of those first days of this new year. We have been witnessing some very interesting things with xrp lately.
Some might say that its just xrp's "own pattern" but i'm not sharing that opinion. In my opinion we witnessed xrp detaching from the "KING" btc.
So what does this mean for xrp?? This means that xrp will be able to increase in value while btc decreases in value. "BUT this is only possible if there are trading pairs with xrp as base!!!" is what alot of people say. Even though this is not completely true, binance announced just recently that they will launch more xrp pairs... So there you have it! Basically what i'm saying is that we might exit this bearmarket with a new leader in the market, and what better canidate then xrp?
As you see on the daily chart we are approaching the 200 ma, and we already broke trough the 50 ma and currently are being held down by the 18 ma. Looking at that alone gives a higher probability to the upside.
We are in a so called "burger" right now, that means we are under a solid resistance and above a solid support. On my chart you will see 2 scenarios, breaking support will lead to down scenario (red arrows) breaking the resistance should lead to up scenario (green arrows). Personally i think we will visit the trendline one last time, because the overall market is a little bit weak at the moment even with the btc spike we have right now. Monitoring behaviour at the trendline is very important as this could be the last time visiting it before a significant spike up!
Let me know what you think about my chart and if you have a different view don't hesitate to share it in the comments below! Like this chart? Don't forget to like and share and follow me so you won't miss out on the upcoming ones!!!
Thank you all!
I hope you've been able to get the best out of those first days of this new year. We have been witnessing some very interesting things with xrp lately.
Some might say that its just xrp's "own pattern" but i'm not sharing that opinion. In my opinion we witnessed xrp detaching from the "KING" btc.
So what does this mean for xrp?? This means that xrp will be able to increase in value while btc decreases in value. "BUT this is only possible if there are trading pairs with xrp as base!!!" is what alot of people say. Even though this is not completely true, binance announced just recently that they will launch more xrp pairs... So there you have it! Basically what i'm saying is that we might exit this bearmarket with a new leader in the market, and what better canidate then xrp?
As you see on the daily chart we are approaching the 200 ma, and we already broke trough the 50 ma and currently are being held down by the 18 ma. Looking at that alone gives a higher probability to the upside.
We are in a so called "burger" right now, that means we are under a solid resistance and above a solid support. On my chart you will see 2 scenarios, breaking support will lead to down scenario (red arrows) breaking the resistance should lead to up scenario (green arrows). Personally i think we will visit the trendline one last time, because the overall market is a little bit weak at the moment even with the btc spike we have right now. Monitoring behaviour at the trendline is very important as this could be the last time visiting it before a significant spike up!
Let me know what you think about my chart and if you have a different view don't hesitate to share it in the comments below! Like this chart? Don't forget to like and share and follow me so you won't miss out on the upcoming ones!!!
Thank you all!
chart: