Since XRP had the huge previous ugly wicks of the 30 bottom break going down to 23 Cents, all the following price action has clearly stayed inside that range. Compared to the other Alts, XRP's moves much more flat right now, which basically underlines the importance of the 25 Cents as an S&R zone.
Nonetheless, the bulls have to clearly break this bullish downward channel with the Pullback High at 26 Cents. We can reject from the current resistance, build higher Lows, and try again.
In the direct correlation to Bitcoin we have broken bearish out of a huge Bear Flag: Anything under 2,8k Satoshi is only a lower High:
Conclusion: As long as XRP doesn't reverse its strength towards Bitcoin, it will a) neither make sense to HODL XRP vs. BTC, nor b) Play XRP as a trader on bullish breaks compared to BTC.
EOS bounced off 10% and was clearly the leading Alt in this case:
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :)
Edgy is providing online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
Nonetheless, the bulls have to clearly break this bullish downward channel with the Pullback High at 26 Cents. We can reject from the current resistance, build higher Lows, and try again.
In the direct correlation to Bitcoin we have broken bearish out of a huge Bear Flag: Anything under 2,8k Satoshi is only a lower High:
Conclusion: As long as XRP doesn't reverse its strength towards Bitcoin, it will a) neither make sense to HODL XRP vs. BTC, nor b) Play XRP as a trader on bullish breaks compared to BTC.
EOS bounced off 10% and was clearly the leading Alt in this case:
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :)
Edgy is providing online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
