Hey guys!!
I told my followers that I would alert when I was getting into XRP, and when I thought it was safe to say so...so here I am.
As you can see, there was a reversal at a key level. This key level was an area of support and it was also the target price of the Head and Shoulders pattern. I bought at $1,1485 and I would say that if the price closes beyond the resistance area it's now trading in, then I would consider this as a good buy opportunity. There's another reason why this might be a good opportunity to buy, and that's because of BTC. I made another analysis about BTC why it could go up. Make sure to check it out cause it's very interesting to know what's going on.
So what do we see on the chart?:
- Bullish hammer at key area.
- Broke the little trend line it was trading in.
- It looks like the volume of XRP is decreasing = explosive move in the future??
- XRP is trading above the 50 EMA and it looks like it bounced from it.
- The RSI is trading above 50 = back in an uptrend.
Bonus:
- BTC is back in the trend line.
That's it for this analysis, if you got value out of it make sure to support this idea by giving it a like. If you didn't get any value out of this, you can safely follow me.
See ya✌️
I told my followers that I would alert when I was getting into XRP, and when I thought it was safe to say so...so here I am.
As you can see, there was a reversal at a key level. This key level was an area of support and it was also the target price of the Head and Shoulders pattern. I bought at $1,1485 and I would say that if the price closes beyond the resistance area it's now trading in, then I would consider this as a good buy opportunity. There's another reason why this might be a good opportunity to buy, and that's because of BTC. I made another analysis about BTC why it could go up. Make sure to check it out cause it's very interesting to know what's going on.
So what do we see on the chart?:
- Bullish hammer at key area.
- Broke the little trend line it was trading in.
- It looks like the volume of XRP is decreasing = explosive move in the future??
- XRP is trading above the 50 EMA and it looks like it bounced from it.
- The RSI is trading above 50 = back in an uptrend.
Bonus:
- BTC is back in the trend line.
That's it for this analysis, if you got value out of it make sure to support this idea by giving it a like. If you didn't get any value out of this, you can safely follow me.
See ya✌️