Hey guys! Hope everyone's been well as always, just gonna pump this out real quick and show what we've got.
⚡️XRP has been falling down and seems to have decoupled a bit from Bitcoin's price action at least, with it having moved down facing this angled resistance line which has gradually brought us lower. I've marked the line now as that should be a good indicator to watch should we move above it as we'd possibly see a breakout happen.
⚡️XRP did manage to avoid falling dramatically below my mark of 0.36 so it was great to see that support hold us up above that signaling that we do have support there and that's let us move up from that point to 0.373 where we stand at right now. We'll need to form a higher high than the previous mountains on the minute chart to move up, especially considering that we've had that 200 EMA enter again.
⚡️This minute chart shows you all and you can see from the previous 200 EMA exit just how dramatic the fall can be when you lose that 200 EMA so right now is crucially important for us to hold it, should we lose it again we'll likely continue with another descent till support hits again but this is a real important point as we'd be coming up on a wedge soon enough between that 0.36 mark and our new resistance trend line which seems to be blocking us from moving up.
⚡️So keep watch of that line for any breakout and watch those EMA's as they will be important as always for any indication of what could come next, right now they have flipped up so that's positive to see but whether or not they will stand and hold up to the test now will have to be seen.
Thank you guys for tuning in and wishing nothing but the best. If you'd like to leave a like or follow it'd be much appreciated. Thank you!
~ Rock '
⚡️XRP has been falling down and seems to have decoupled a bit from Bitcoin's price action at least, with it having moved down facing this angled resistance line which has gradually brought us lower. I've marked the line now as that should be a good indicator to watch should we move above it as we'd possibly see a breakout happen.
⚡️XRP did manage to avoid falling dramatically below my mark of 0.36 so it was great to see that support hold us up above that signaling that we do have support there and that's let us move up from that point to 0.373 where we stand at right now. We'll need to form a higher high than the previous mountains on the minute chart to move up, especially considering that we've had that 200 EMA enter again.
⚡️This minute chart shows you all and you can see from the previous 200 EMA exit just how dramatic the fall can be when you lose that 200 EMA so right now is crucially important for us to hold it, should we lose it again we'll likely continue with another descent till support hits again but this is a real important point as we'd be coming up on a wedge soon enough between that 0.36 mark and our new resistance trend line which seems to be blocking us from moving up.
⚡️So keep watch of that line for any breakout and watch those EMA's as they will be important as always for any indication of what could come next, right now they have flipped up so that's positive to see but whether or not they will stand and hold up to the test now will have to be seen.
Thank you guys for tuning in and wishing nothing but the best. If you'd like to leave a like or follow it'd be much appreciated. Thank you!
~ Rock '
