XRP Ready to Bounce!!

23 nov. 2021

XRP has been performing well as of late but recently we have been feeling the bearish pressure along with the majority of the market but we are now starting to look bullish and i could see us getting a much needed bounce coming up soon. We are currently at a massive intersection of very strong support levels, we have uptrend support, downtrend resistance that has flipped to support and then aswell as 2 horizontal levels all packed together in a very small area. I think that it is very likely we see XRP make a move after bouncing off these levels and it would honestly take an immense amount of bearish pressure to push us below all of these supports and since we have been on the downside for quite some time now i don't believe the bears have any fuel left especially for a push down like this. Taking a look at the bollinger bands we aren't in a very ideal spot we are just slightly above the bottom band and as you all know grabbing onto this band could definitely trigger a big move to the downside but honestly i don't see this happening for XRP right now the bearish momentum is continuing to fade and its unlikely we will see a close ontop of this bottom band. Looking at the fading bear momentum on the MACD, we are looking solid on the histogram we are seeing a very flat set of bars and even slightly decreasing, this is a very positive sign for XRP and we are slowly but surely moving towards a bullish cross, the MA's are spread out a bit but we are starting to see them travel towards eachother and thats exactly what we want, the decreasing red bars on the histogram is definitely the most important part though. Now the Wavetrend indicator, we have seen a heavy push to the downside recently but we are now seeing some positive signs, we are beginning to see upwards movement coming from the wave and we could be looking at our next upside wave as we are getting pretty close to a reversal, keep in mind this indicator doesn't usually make jagged moves so once we get the confirmed upside wave it should be a fairly large one that could push us back into the upper zone! Not financial advice just my opinion!