Hi world, welcome to this update analysis on XRP/USD.
We see on the chart XRP looks like its forming a bear-flag for now that could bring us downer to the target i mentioned. Also it could be the forming of A of the ABC-correction.
In other direction if we held this level here as support we could move higher to test the black dashed trendline witch you can see above the current price action.
Whats up with the MACD? We see MACD forming a bullish cross in the past days witch is in fact a bullish sign, but it could turn into bearish also so we have to keep an eye on this.
RSI: The relative strength index was in the oversold region in the past days, seen under 30 but is slowly recoverign to the upside. We could see here a move in the oversold region again.
Have fun and luck with your trades!
We see on the chart XRP looks like its forming a bear-flag for now that could bring us downer to the target i mentioned. Also it could be the forming of A of the ABC-correction.
In other direction if we held this level here as support we could move higher to test the black dashed trendline witch you can see above the current price action.
Whats up with the MACD? We see MACD forming a bullish cross in the past days witch is in fact a bullish sign, but it could turn into bearish also so we have to keep an eye on this.
RSI: The relative strength index was in the oversold region in the past days, seen under 30 but is slowly recoverign to the upside. We could see here a move in the oversold region again.
Have fun and luck with your trades!