XRP still under 3d average as DXY continues breakout
apologies again for sound issues at beginning
We can see clearly the inverse relationship between DXY and XRP
If DXY fails this breakout continuation and instead reverses (failed moves can fail fast).. then XRP can explode up from this 3d 200 average. However, as data is currently showing, there is a lot of downwards pressure being put on XRP and crypto coming into end of September
October has historically been a weak month
Its no surprise that downward pressure is the data showing coming into end of September. It is not uncommon tho for relief to be found in October start of last quarter before start of a new year.
Keep an eye on DXY and US Yields for sign of reversal in order to gain confidence in crypto
If US yields continue to rise then it will mount pressure on other weaker currencies and likely lead to a continuation in price of USD. As weve seen that price increase in USD will likely result in devaluation of crypto assets. Must keep an eye on new data as it comes out to be up to date with outlook.
We can see clearly the inverse relationship between DXY and XRP
If DXY fails this breakout continuation and instead reverses (failed moves can fail fast).. then XRP can explode up from this 3d 200 average. However, as data is currently showing, there is a lot of downwards pressure being put on XRP and crypto coming into end of September
October has historically been a weak month
Its no surprise that downward pressure is the data showing coming into end of September. It is not uncommon tho for relief to be found in October start of last quarter before start of a new year.
Keep an eye on DXY and US Yields for sign of reversal in order to gain confidence in crypto
If US yields continue to rise then it will mount pressure on other weaker currencies and likely lead to a continuation in price of USD. As weve seen that price increase in USD will likely result in devaluation of crypto assets. Must keep an eye on new data as it comes out to be up to date with outlook.
Free Trading Data Alerts >>> softquant.io
5 day FREE trial >>> discord.gg/jJG5EYA
5 day FREE trial >>> discord.gg/jJG5EYA
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.