Clearly, XRP is on a good looking uptrend. Each uptrend touch is showing a really good demand increase which makes this uptrend more reliable and show his strenght.
XRP is slowly but surely increasing in its price coorelated with Bitcoin moves, but alts are most likely to see a sharper % increase althought Bitcoin is more “stable” than altcoins when denials are seen
Such as the strong denial of 0,475 level right to to 0,40cents which is almost 16% decrease in few hours, Bitcoin in this timeframe dropped “only” about 11%, but consider that XRP is one of more stable alts.
But lets not beat around the bush and take a look at some information which are visible from the chart.
There are higher lows which means that people are willing to buy XRP at higher prices.
Althought XRP hasn’t managed to beat highest high of 0,47869 this time, but I don’t think its a bad sign as it has stopped around the same level and found support much higher and begun uptrend from there.
There are some good looking ressistance into support zones which are sign of healthy market and are good for the overall increase, because we don’t want only parabolic increases as that would disrupt the stability way more.
EMAS I use are 9,26, which are EMAS. And I also like to use 50 day to these two EMAS.
So the EMAS are now kind of undecided but more pointing upwards, 50 confirms uptrend.
is also showing a clear uptrend, the demand is really strong.
Okay, so the next possible steps for XRP.
Now XRP is testing ressistance zone from where it can get denied but has to find support at uptrend, if not and closes below and then tries to break back into uptrend and fail, a downtrend may begin.
But if XRP will succesfuly get to this ressistance zone and break it, it may find ressistance uptrend on the black line and then test Red horizontal resssitance line which I unfortunately say right now what will happen there.
Two things can happen on this ressistance level.
Deny - major drop
Break - parabolic move.
That would be all from me!
If you think that I have forgot to mention something important, ask me down below!
Also I will post regular updates in any timeframe.
Thanks and good luck trading!
RSI has performed a double top but still is on uptrend.
It would be ideal if this hourly candle can close above 45 cents to show that it has find support and ressistance area of 45-45,1 cents. Even though there was a steep test to 46,5 XRP is still uptrending.