The price made a low at .212, then made a sequence of higher lows and broke market structure before rejecting the .378 level.
Price then made a series of lower lows and lower highs before touching the H4 Order Block (.2734) and making an impulsive, yet weak break of structure.
It appears to me that the price will now tap into the H1 order block, (.2619), and possibly/probably the m5 OB (.2574) before taking off.
The m5 is the lowest point of the area, and crypto seems to often dig right down into the OB, and often deeper, before making it's opposite move.
With the recent news about Ripple (which I think is a stunt by the leaving USA administration in order either destroy Ripple and XRP or to create fear in order to buy cheap!), this could still go either way, so I will only be placing a reasonable stake, with a reasonably tight stop loss, I can easily add to it if it goes up, if it goes down, I can get out and short!
As we have had higher lows since .212, the price is not expected to drop below the last one at .249, but hey, nobody knows!
Price then made a series of lower lows and lower highs before touching the H4 Order Block (.2734) and making an impulsive, yet weak break of structure.
It appears to me that the price will now tap into the H1 order block, (.2619), and possibly/probably the m5 OB (.2574) before taking off.
The m5 is the lowest point of the area, and crypto seems to often dig right down into the OB, and often deeper, before making it's opposite move.
With the recent news about Ripple (which I think is a stunt by the leaving USA administration in order either destroy Ripple and XRP or to create fear in order to buy cheap!), this could still go either way, so I will only be placing a reasonable stake, with a reasonably tight stop loss, I can easily add to it if it goes up, if it goes down, I can get out and short!
As we have had higher lows since .212, the price is not expected to drop below the last one at .249, but hey, nobody knows!
So now we see that XRP is just slowly grinding along. Although it made a rally, I suspect this was a manipulation to pull in more bulls, the price never managed to break the last lowest high but close enough that that area now holds a large liquidity pool that will, MUST, be tapped, but as we see from the lack lustre bounce from the H4 order block, this will go nowhere until the orders waiting at the m5 order block are filled, stay tuned for more....