XRP ANALYSIS:
XRP is also attempting a small hourly bearish engulfing. There is a slight divergence on the hourly RSI from previous bottom, but that does include that the new low is a bit higher. It seems sell pressure is still overtaking buyers. Another similarity following legacy markets. This causes a higher panic for buyers and a reason why they will wait to step in when major support is hit. I expect a possible shot back up to the new resistance block following to T1 at . 1394, and T2 at .1467. From here, another rejection is expected and a possible shot back to major support near .11. I would recommend entering in some long bids inside the major support for long term hold.
XRP is also attempting a small hourly bearish engulfing. There is a slight divergence on the hourly RSI from previous bottom, but that does include that the new low is a bit higher. It seems sell pressure is still overtaking buyers. Another similarity following legacy markets. This causes a higher panic for buyers and a reason why they will wait to step in when major support is hit. I expect a possible shot back up to the new resistance block following to T1 at . 1394, and T2 at .1467. From here, another rejection is expected and a possible shot back to major support near .11. I would recommend entering in some long bids inside the major support for long term hold.
Trade closed: target reached
Trade closed: target reached