Ripple (XRP) Daily Timeframe analysis (2 Interesting Buy Areas)
With the continuing bullish sentiment in the crypto environment, I think a new cryptocurrency analysis is rightly justified and interesting. And what other crypto to analyse than one of the biggest winners in the 2018 bull run, but lesser so in the 2021 bull run, sparking questions and thoughts about the future of the crypto. It is, however, needed to say the XRP also definitely did not lose in 2021, other than some other cryptos from 2018, XRP is still in the top 10.
I made a quick analysis using 4 different EMA's, trendlines, key levels and one fibonacci retracement. I located two interesting buy boxes to look out for in the coming future. The upper one should be seen as a buy and hold area from a good price point, this is mostly based on the 382 fib point and the key level surrounding it. You could expect some drawdown with this position, but that is why it is buy and hold (long term).
The lower green box can be used for the same purpose, but would also be a very good daytrade with a lot of confluences coming together at one point. 3 Trendlines, 1 EMA and the 50 fib level create a new area from where you could enter a long position.
All boxes are valid untill the price is passed them timewise. Always trade with your own plan added!
I made a quick analysis using 4 different EMA's, trendlines, key levels and one fibonacci retracement. I located two interesting buy boxes to look out for in the coming future. The upper one should be seen as a buy and hold area from a good price point, this is mostly based on the 382 fib point and the key level surrounding it. You could expect some drawdown with this position, but that is why it is buy and hold (long term).
The lower green box can be used for the same purpose, but would also be a very good daytrade with a lot of confluences coming together at one point. 3 Trendlines, 1 EMA and the 50 fib level create a new area from where you could enter a long position.
All boxes are valid untill the price is passed them timewise. Always trade with your own plan added!