XRP is looking really strong on the daily chart. Wait no, Ripple is looking good across all time frames and pairs (BTC & USD). Let's take a quick look.
- Yesterday we had a strong candle almost full green, today the momentum is keeping up and the up movement remains.
- We are sitting at the EMA50 line, which can work as resistance, once this level is broken we can expect additional growth up (magenta line on the chart).
- The MACD just crossed over and it is showing plenty of room for growth.
- The RSI and DMI are trending upward and showing plenty of room for growth. The STOCH is bullish but in the upper side, might be pointing to a very small retrace, this is not a big signal though. We remain very bullish.
- Volume is also good in the last few days of trading, which is a good signal that backs up the rise in price we have been having the last few days.
Note: This is all based on the daily chart.
- The short term 1h, 2h and 4h charts are all looking overbought on the RSI but the rest of the indicators are extremely bullish. This can lead to a small retrace or sideways action until the RSI levels out.
- There is room for growth on the weekly chart but that part still needs more work, it can go either way.
Overall, Ripple looks good vs USD. It is moving up strong and all the indicators on the chart short support this movement.
Now, for Ripple (XRP) vs Bitcoin (BTC) - XRPBTC - Things are looking good as well.
- The daily chart allows for plenty of room for growth and the indicators are very, bullish. The MACD is crossing over and trending up and the rest are pushing up strong.
XRPBTC daily chart:
On the weekly there is room for another run. But remember that this can change next week and that XRP, as well as the rest of the market, is highly manipulated. But with Bitcoin looking to retest support and many mayor coins breaking out of Bitcoin stronghold... This can be a good trade.
Thank you for reading. Thanks for your continued support.
Note: This is a quick analysis by request. There won't be any updates, so please use this information to your advantage.
sorry for the message but i realy wanne talk in chat but need 50 points can u guys help me real quick
WizardOfRealms
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Right! I have been both a bear and a bull... in that order... now, I am a bear again :(( Market is HEAVILY MANIPULATED!
starsaway
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Hi, I am a newbie, so please excuse me if I speak too ignorant. Isn’t this the collareral effect of BTC? I mean, if/when BTC goes down to let’s say 6000$ as Alan has predicted in another analysis, what will happen to XRP? So far I am holding my money in USDT to bu BTC when it dips again, is it a good idea to buy XRP like 30-50% of my money, and keep the rest for a dip? So confused. Thanks for any advice
Honestly, I think Ripple is going to come down to $.95 before it continues its uptrend. Just giving a second opinion based on my readings of the Full Stochastic & The RSI being oversold on the 4hr chart.
Crypto space is about to start retracing back most of its gains from this week.
blondengineer
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@dream300zx, I think if BTC goes down again to $6000 we will see levels of XRP again below $0.6. And even worse if BTC breaks that support.
dream300zx
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@blondengineer, I actually can see that happening, I was just trying to be conservative and say $.95. You are right, if BTC breaks below $6000, its may not bounce back. I do get the feeling that BTC will not just fall as quickly as it went up this week. I think it will be a little over a week.
houseofari
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@blondengineer, You're both right. In a normal market there would be a downtrend at the first target we just reached, retracement of 35%. This would be the second Elliott Wave. After that, we would go up to at least $ 1,75 (very conservative). But in the end, it all depends on BTC and according to most top BTC traders, we still have a final downward wave to go.