The Blue Wavy line is the 20-day Moving Average and that is closing in on the 50. It too is acting as resistance.
The Gold Wavy Line is 9-day MA and it follows along.
The regression channel indicator captures the nicely. However, this tool is showing me that the upper channel is in play since the 22nd with a retest in the 26th. If the prior action (4-day cycle) hits the mid-level of the channel then I am inclined to believe that the bears are still at work. But this is looking weaker too.
It is my opinion that XRP will push to resistance in the short term-48 hours or less-If the price does not hit support by 31 Jan.
The Short-term Fib shows the last move retrace to .786 and is now at the .5.
.236 and .382 is structural resistance.The top end of the regression channel also shows the.382 as resistance.
The regression channel was drawn first.
Lastly, XRP does have a repetitive history of this movement followed by a rapid downward movement. I expect XRP to consolidate in the next 48 hours. That will be an area that the skilled traders can work magic.
RAK Bank will begin working with XRP. BitOasis will allow XEP trading in Dubai this week.
Over 3 million Koreans (1/17 of total population) have created KYC bank -> exchange accounts according to the financial authorities and commercial banks. The virtual currency trading real name system will be implemented on January 30th.
It is possible!!!