This analysis is for XRPUSDT on 4HR Timeframe
XRP have recently touched the 1$ mark and have achieved this with a good volume.
RSI have seen a downward movement after visiting the overbought zone and achieving an ATH. For MACD, the signal line is looking to cross down the macd line. If the price holds support1 which is at $0.9, this is good for XRP in order to see another leg upwards. If it breaks this support, next immediate support level is at $0.8, which if broken, it can see a down trend till $0.6 levels.
On the other hand, if XRP holds between support1 and support2 and accumulates further, it could easily break the current ATH and the immediate resistance, and visit the free territory.
Traders can open long positions, or fill their bags on spot if it accumulates between both the support levels and take profits periodically. Stop Losses can be placed below $0.80
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XRP have recently touched the 1$ mark and have achieved this with a good volume.
RSI have seen a downward movement after visiting the overbought zone and achieving an ATH. For MACD, the signal line is looking to cross down the macd line. If the price holds support1 which is at $0.9, this is good for XRP in order to see another leg upwards. If it breaks this support, next immediate support level is at $0.8, which if broken, it can see a down trend till $0.6 levels.
On the other hand, if XRP holds between support1 and support2 and accumulates further, it could easily break the current ATH and the immediate resistance, and visit the free territory.
Traders can open long positions, or fill their bags on spot if it accumulates between both the support levels and take profits periodically. Stop Losses can be placed below $0.80
Thanks for reading our analysis and comment below for what do you think?
Follow us for more ideas
Happy Trading