EliotFX

XRP ANALYSIS - Ichimoku cloud

Long
BINANCE:XRPUSDT   XRP / TetherUS
This time I used Ichimoku cloud that helps to identify long term market trends. It is also used to identify support & resistence levels.

Ichimoku cloud (2H) on XRP shows some precious information :
1- Tenkan and Kijun lines are twisted and Tenkan (green line) becomes above the Kijun (pink) one. it means that a modification of the market trend seems to me ongoing
>> this must be confirmed in the next few days

2- In addition, Ichimoku thick red cloud that is being actually crossed is a strong support. A break above can be considered as a strong market signal of uptrend LONG TERM move
>> XRP line must clearly break it to confirm the uptrend

3- The laggin span (in yellow) trend still to be confirmed. It must stay below XRP line to consider the market as bullish
>> To be confirmed very soon

If the 3 points are confirmed, XRp should test the 61,8% and then upper levels

Not financial advice

Dont hesitate to comment and enrich this analysis ;)