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developingtrader
Jan 4, 2020 9:47 AM

XRP preparing for a move! long term: SHORT, short term: LONG Short

XRP / DollarBitfinex

Description

XRP went downwards since July.
XRP and its SMA's behaved similary from July to September '19.
XRP going sideways for the last 2 weeks.
Major support at 0.15$.
50 SMA still under 200SMA.
Momentum at approx. 0.
RSI at around 40 and lower on larger timeframes.

So for the short timeframe i see XRP at around 0.21$ or even 0.25$ (within a week or 10 days) like it did in September but then it all depends on BTC: If BTC decides not to dumb in mid-january like it used to do the last 3 years, we might start a new uptrend.
If BTC dumps we might fall back to 0.15$. We know the (pretty consistent) mid-january pattern so IMO the burden of proof is on the bulls to convince the bears why XRP or BTC or both wont dump.
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