Crypto_Sid
Long

XRP/USD - I'm Bullish But Watch for Double Top (4HR)

BITSTAMP:XRPUSD   Ripple / Dollar
Video on XRP and what i'm currently seeing in the charts. In general, i think we're starting to see some good bullish action play out within price action, which i explain in the video.

However, could we be seeing a double top forming on the 4HR??? I guess only time will tell.

Trade ist aktiv: Not able to upload a video at the moment, so here is a manual update.

Having looked at the chart for the first time today, I'm starting to lean towards the idea that XRP is putting in a Lower High (LH) on the 4HR. That damn 200EMA is keeping price down.

Price is above the 200EMA on all charts, but the 4HR. If we can get a break and sustain it for a day or so, i think we would see more north bound movement in price.

The daily candle is forming out to be bearish after it's pop yesterday, but we're seeing some downward pressure at the moment.

I'm thinking we might see price action move back to around $1.00, which would allow with my new fib zone i added to the 4HR.

I've added to areas of support, which i think will be key in holding price from going back to its lows of the beginning of the month.

Daily
Kommentar: 4HR Chart
Hi. Thanks much for the vid and analysis. Any update now that we’re at 1.11? Thx!
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Crypto_Sid Edward78
@Edward78, I'm thinking we might see price pull back a bit... i'm thinking back down toward $1.05 - $1.00. I just updated with a few pics
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Edward78 Crypto_Sid
@Crypto_Sid, agreed. Thx for the update. Assuming BTC continues its rally after a possible retesting of $8k levels, I think XRP could retest ATH within a month or so. Especially on good news.
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Mabye a cup and handle based on price action over the next few periods. Maybe some consolidation for the handle??
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Crypto_Sid tripjscrypto
@tripjscrypto, maybe... i'm not great with the cup and handle pattern.
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tripjscrypto Crypto_Sid
@Crypto_Sid,

I think for the handle you only need to have some type of consolidation pattern. Maybe a flat/penent or a bullish rectangle I think both kind mean possible upside action / /breakouts.
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tripjscrypto tripjscrypto
@Crypto_Sid, If that is a breakout today's candle is playing right on the 36 day as resistance. Might get it up over the hurdle
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Thanks you for your share !
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Thanks for the info, it was really helpful. Can you please keep us posted? thanks again
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Crypto_Sid moga111
@moga111, Thanks... I'll look to do another update tomorrow depending on how action plays out.
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