Hi
I am not an experienced trader nor TA expert, but it seems that XRP is forming a bull flag (considerable size) on the 4 hour chart.
EMA20 has started crossing (in yellow) the flag. We might be looking at a breakout soon. especially if EMA50 enters the flag as well.
The target would be 0.84 cents in the next couple of days.
However, This could ultimately die off quickly if BTC breaks down, because it seems BTC is pulling every main ALT down when it dives as well.
I am not an experienced trader nor TA expert, but it seems that XRP is forming a bull flag (considerable size) on the 4 hour chart.
EMA20 has started crossing (in yellow) the flag. We might be looking at a breakout soon. especially if EMA50 enters the flag as well.
The target would be 0.84 cents in the next couple of days.
However, This could ultimately die off quickly if BTC breaks down, because it seems BTC is pulling every main ALT down when it dives as well.
Comment:
Looks like the price is bouncing off EMA20. I believe the price will oscillate within this flag until EMA50 enters it. If this is right, then in the next few hours, XRP price should descend and bounce off EMA20 again, @ 0.66 cents. I don't think the price will go below 0.66 cents today. When EMA50 enters the flag, I think we will see some nice breakout action.