XRPUSD Technical Analysis 4 hour - XRP trying to hold? can it?
Hi there.
Current state:
Still out. That means we have USD on hand.
Still waiting to see how ripple responds.
Indicators/Charts analysis:
Stop Loss:
Removed. Will wait to see what happens in the overall crypto market. All altcoins are being affected by the major drops and XRP is not exempt. I think price will likely drop to 0.38 soon.
Target:
None for now.
Alarms:
None for now.
Conclusion:
Do not enter trade yet.
will not likely to enter a trade until price goes above EMA 12 (around 0.45 or 0.46)
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Current state:
Still out. That means we have USD on hand.
Still waiting to see how ripple responds.
Indicators/Charts analysis:
- RSI: heading into oversold territory, but not completely yet. Mostly moving horizontally, although price is moving down.
- Stoch RSI: is oversold. This may help boost xrp up a little At least in the short term.
- Bollinger Bands: We are at the bottom of the band, and band is widening. Not good. Price may continue to drop.
- EMAs: 12, 26 and 50 have all crossed in the down direction. These are lagging indicators so it means the momentum down has been happening for some time now.
- Awesome Indicator: Bears are still in control (red bars). Indicator finally crossed to the bearish area.
- Volume: Above 26 moving average. The great majority has been on the selling side. This again suggests people are offloading their xrp more than buying it.
- Renko: Switched to a down trend. Added a few more red bricks (size 0.0197).
- Renko RSI/Stock RSI: Neither indicator is oversold or overbought suggesting indecision (will the rest of the crypto market drag it down with it???).
Stop Loss:
Removed. Will wait to see what happens in the overall crypto market. All altcoins are being affected by the major drops and XRP is not exempt. I think price will likely drop to 0.38 soon.
Target:
None for now.
Alarms:
None for now.
Conclusion:
Do not enter trade yet.
will not likely to enter a trade until price goes above EMA 12 (around 0.45 or 0.46)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
If you like this, you can donate LTC to:
LZKza6vBcBnkfaDMHYXXUd6ud8Jf87Lfm3
Any donations will help me keep posting analysis. Also, don't forget to share your comments!
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.**
