Last week I was pretty bullish on XRP when the price was below $0.50 per XRP and currently is hovering above $0.62 per XRP with no signs of exhaustion.
This time we will be looking at 6h chart instead of daily one as it contains more valuable information’s about the future price action.
After the $0.50 psychical resistance and weekly one was broken at this level, the price continued to breakout all the way to $0.78 per XRP where an pivot resistance has been printed and this level currently acts as a strong resistance point. After this pivot was created, the price has surged down with a 35% leg down and found support at 50 EMA located at $0.456 where another pivot point was printed and uptrend was restored.
This pivot point is located in the previous resistance area, which was now retested and confirmed as support area.
Right now the price of XRP is above 20 EMA which is important if the bulls would like to see another strong volume spike to the upside.
MACD is very indecisive as the price is a tight range from $0.60 to $0.63 and a break of either level is expected to bring strong volume and show if the next wave is going to be either buying one or selling one.
RSI is currently below 60, which is not ideal for the bulls, but it’s actively trying to break above this level. Break above 60 will confirm bullish momentum.
Current resistance levels.
$0.63
$0.70
$0.75
$0.80
Checkout my other XRP ideas down below!
This time we will be looking at 6h chart instead of daily one as it contains more valuable information’s about the future price action.
After the $0.50 psychical resistance and weekly one was broken at this level, the price continued to breakout all the way to $0.78 per XRP where an pivot resistance has been printed and this level currently acts as a strong resistance point. After this pivot was created, the price has surged down with a 35% leg down and found support at 50 EMA located at $0.456 where another pivot point was printed and uptrend was restored.
This pivot point is located in the previous resistance area, which was now retested and confirmed as support area.
Right now the price of XRP is above 20 EMA which is important if the bulls would like to see another strong volume spike to the upside.
MACD is very indecisive as the price is a tight range from $0.60 to $0.63 and a break of either level is expected to bring strong volume and show if the next wave is going to be either buying one or selling one.
RSI is currently below 60, which is not ideal for the bulls, but it’s actively trying to break above this level. Break above 60 will confirm bullish momentum.
Current resistance levels.
$0.63
$0.70
$0.75
$0.80
Checkout my other XRP ideas down below!
