XRP potential continuation to the upside from here

Purely speculation. XRP seems to be ranging, and has reached the "bottom" of the range.
It is also in a strong demand zone, so i could see more buyers entering into the asset.

We will keep an eye out to see how it moves, another move to the downside is not unexpected as well.

Comment:

Doji on the 4H retracing off the demand zone

Comment:

Retracement off of demand zone around 0.23154. However still in limbo. Could push, and break to lower lows, or continue to the upside. Considering the price action of BTC, we could potentially see movement in the near future when more sellers enter the market against BTC, and reallocate their profits into XRP, or other alt coins.

Comment:

Waiting for a break, close, then a retest above the Golden trendline around the price area of 0.26. After this i will be looking to margin trade this asset with minimal risk.

Comment:

Price has officially respected 0.23154 as a support and moved upwards towards our new entry objective. As expected, when bitcoin has seen minor withdrawals of profit from the markets, XRP has made moves upward. We will continue to monitor price, the US elections might have an influence after a decision is made on who is the president.

Comment:

This might be a point where we could see some major retracement back down to significant technical areas on the chart.

Trade active:

Keeping in mind the significance of this level as an area where sellers might start to enter the markets to make some profits, i am still going to enter a trade long off of the retracement of the Golden trend line with a tight stop loss @ 0.2585. Hoping for a second or third retracement to confirm the area as a new found support. Risking 0.5% of the total account size.

Comment:

Trade closed: stop reached:

Stop reached. Lost 0.5%

Comment:

After moving 50% into profit, sellers entered at the highlighted light green supply and demand zone perfectly. Would have been a better time to short around the 0.2668 area. Regardless margin trading crypto is always unpredictable. Im looking for a break of the previously mentioned supply and demand area to confirm further upwards momentum. As for now it is very obvious that XRP is in consolidation. We will continue to monitor the price and post future results or trading opportunities.

Comment:

Comment:

Massive move up above the golden trend line. Price seems to be retracing and respecting 0.26 as a short term support. Waiting for close of the 1H and 4H candles above this area to confirm a break.

Comment:

Trade closed: target reached:

XRP has hit above 0.27 Cents. I am waiting for a retracement back to the golden trend line for a short term entry on margin. However, i am taking profit on all active trades. See you in the next analysis.