Ripple shot up yesterday and just touched the Weekly pivot point
at 1.24 after which it dropped back to 1.00 S/R level. Sharp moves.
Today it tried to continue down but has bounced intraday by the Weekly
pivot point. Currently its trading between the Daily pp and S1 and is back
above the Cloud on H4 timeframe. Chances are we will see price advance from
here towards the 1.13 S/R level.The intrady bounce was a healthy sign that
the daily MACD bull cross is starting to affect price action. Bulls are fine with
a close above the 1.00 level today, to establish the support and aiming higher.
Ultimately, price needs to take out and close above the current high and the
Kijun line (White line) which would expose the Yearly pivot point at 1.50. Also important
are the new Weekly pivots, which will guide price forward. Current support zone
is the 0.90-1.00. If price falls back and close below this zone, we will likely see
a move towards 0.79 S/R level. Overall, price is appreciating on the back of a bullish
MACD cross and a test of the daily SMA200. The pair is still vulnerable after the bigg
losses during 2018, but the H4 chart is looking constructive and we may see more upside
the days ahead. A return back inside the Cloud, may warn of another run at the lows.
On intraday chart Bulls would like a close above the daily pivot point at 1.05 to add more
buyers on the wagon.
at 1.24 after which it dropped back to 1.00 S/R level. Sharp moves.
Today it tried to continue down but has bounced intraday by the Weekly
pivot point. Currently its trading between the Daily pp and S1 and is back
above the Cloud on H4 timeframe. Chances are we will see price advance from
here towards the 1.13 S/R level.The intrady bounce was a healthy sign that
the daily MACD bull cross is starting to affect price action. Bulls are fine with
a close above the 1.00 level today, to establish the support and aiming higher.
Ultimately, price needs to take out and close above the current high and the
Kijun line (White line) which would expose the Yearly pivot point at 1.50. Also important
are the new Weekly pivots, which will guide price forward. Current support zone
is the 0.90-1.00. If price falls back and close below this zone, we will likely see
a move towards 0.79 S/R level. Overall, price is appreciating on the back of a bullish
MACD cross and a test of the daily SMA200. The pair is still vulnerable after the bigg
losses during 2018, but the H4 chart is looking constructive and we may see more upside
the days ahead. A return back inside the Cloud, may warn of another run at the lows.
On intraday chart Bulls would like a close above the daily pivot point at 1.05 to add more
buyers on the wagon.
