POLONIEX:XRPBTC looks like it is in a good risk to reward position to go long on the weekly chart. The MACD is turning bullish if the weekly close confirms the crossover. Regardless, with the MACD already so low it would be pretty difficult to cross back down again without a major sell off. This is crypto, so I'll have to monitor that situation.
XRP RIPPLE break uptrend channel with volume. Closed bellow EMA 21, Testing EMA 50, still above EMA200 long term still in play. MACD bellow zero line, RSI bellow 50 points together look bearish. Volume decreased.
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After a long downtrend, Ripple has recovered and brought some profits for bullish traders.
But now we can see a "Dark Cloud Cover" candle formation, what is a top reversal sign after an uptrend, confirmed by heavy bearish volume.
This weekend will be dangerous for any trader.
There are many speculations and rumors...
I'm personally taking this trade on the XRPZ19 contract on Bitmex, but for context posting it on the Binance chart. We're near the end of a rough falling wedge into a demand zone, if the uptrend is to continue it should bounce here.
Good evening traders!
I know... I know... I know... the chart is ugly. I apologize.
Also... It's XRP.
The ultimate, centralized shitcoin.
The key thing to remember is that we are traders. The fundamentals of a project are irrelevant to our technical analysis.
Wasa... wasa... wassssup!
We always trust our charts and look for patterns to repeat. In this...
Dips are for buying..
Retesting ~2800 sats crossed level, if hodls sell pressure and bounce from here (flipping it into support), then aiming for ~3300 sats as 1st target...
UCTS Buy signal active on the 1D/12H/8H and lower tfs
Volume at good levels and flowing in
- Breakout & Retest Done..
- RSI + MACD Bullish Divergence..
- Double Bottom ..
- Looks Ultra Bullish
So LONG #Ripple !!
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