Taking a dive into the 2-hours charts for March and April thus far, using Bitstamps XRPUSD data, it's clear to see a definitive change in sentiment for the market during this period. Starting first with trade - early-mid March, we can clearly see higher volumes of selling pressure which triggered pretty much the floor price of $0.54. Where in the past six days in mid-April we've seen a notable drive for green-volume. See the two giant circles, that show this (just in case you missed it!).
Then onto interim trade patterns shown as yellow boxes on the chart; through late March and very early April we saw a very steady and flat trading period, with low that continued for numerous days; in one case for 13 days the price hardly moved above or below a range of $-46-$0.52 - to put this into perspective that's a range of around 13% using the lower limit, which if you place the price in the median, $0.49, means the price hardly varied more than 6.5% for a period of 13 days; this is almost unheard of in XRP history, but each time this happens, it has historically happened before a price pump. This is because long periods of flat low trading indicates a generally lower interest in XRP / Crypto; HODLers are content, bulls waiting for the right time to dive in.
On to ; we can see that using 14-day , XRP had hit below 30 no fewer than six times during March. The last time was April 1st, and since this date the has not been lower than 30. Conversely, during March, did not surpass 70 once, save for the initial over-bought days in the first week of March that helped trigger a sell-off. Since 1st April, has been above 70 at least four times, which is remarkable considering we're only half way through April.
Moving on to moving averages; using 12 and 26 day standards, March showed a considerable time in the red (deep red!), as highlighted with the red boxes. This is a direct comparison to the preceding 12 and 26 days, showing very clearly a downward trend (as also shown on the candles). This, in continuation with the high sell , contrasts strongly with April, where much of the MA's have been green (in some cases deep green) along with high buy .
Finally onto trading here and now; the past four days has seen a clear pattern emerging (show by the green triangle on the chart), which is more often than not a continuation pattern. Given that that the preceding activity was heavy , closely aligning with BTC's activity, it's a reasonable assumption that at the end of the , there could be a breakout. My estimates would be that this could happen in the coming 10-14 hours from publication of this chart. The end of the actually coincides with Europe waking up (i.e. in 16-18 hours), however Europe does not typically drive market trends in crypto, it tends to be Americans (typically 1pm GMT onward we see strong action), or the Far East (typically 1am GMT onward we see strong action). Therefore it could be that at around 1am GMT on the 18th April, or 1pm GMT 18th April, we see strong upwards action.
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As always, my views are exactly that; my views, and should not be taken as investment advice. Trade safe ;D
The Bulls are BACK!
Also note on the MA to the right, I highlight with a red box that the MA looks set to avoid dipping back into the negative. It's quite key to the buying pressure for MA to not drop too far into negative here.