XRP -- Bullish or Bearish - A Quick Short Term Hold
Fixed up a afternoon delight of XRPUSD for you. Here's a short term XRP technical analysis. If you like, please feel free to hit the thumbs up button. Here we go.
This one almost looks like a coin toss right down the middle. We're taking a look at the 4hr charts on this one based on the Binance exchange. XRP is currently in a downtrend channel we see drawn on the chart in between the two red lines. We are seeing some support around the $0.88 line and RSI is picking up as well as the MACD, so that's good news for the bulls. The bears still have control over the 50day moving average crossing over the 100 day moving average and both are currently over the XRP price levels which leads us to believe the bears are still in control. Volume does appear to be decreasing so we can expect a swing coming up soon.
If XRP can breakout of the downtrend channel, we can expect the following targets = $0.96, $1.07, $1.20
If XRP breaks our current support levels, we can expect the targets = $0.81, $0.72, $0.57
If you play the bull on this one, set a stop loss around $0.85, Cheers!
**Content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances**
This one almost looks like a coin toss right down the middle. We're taking a look at the 4hr charts on this one based on the Binance exchange. XRP is currently in a downtrend channel we see drawn on the chart in between the two red lines. We are seeing some support around the $0.88 line and RSI is picking up as well as the MACD, so that's good news for the bulls. The bears still have control over the 50day moving average crossing over the 100 day moving average and both are currently over the XRP price levels which leads us to believe the bears are still in control. Volume does appear to be decreasing so we can expect a swing coming up soon.
If XRP can breakout of the downtrend channel, we can expect the following targets = $0.96, $1.07, $1.20
If XRP breaks our current support levels, we can expect the targets = $0.81, $0.72, $0.57
If you play the bull on this one, set a stop loss around $0.85, Cheers!
**Content is intended to be used and must be used for informational purposes only. It is very important to do your own analysis before making any investment based on your own personal circumstances**
$0.96
$1.07