XRPShort
Possible Increase in XRP/USD Price in Near Future
As you can see the white line is the EMA with a period of 26 and the red is an EMA with a period of 9. There is a cross happening in the price between both indicators. For any beginners the EMA is a lagging indicator so it helps to instead look at the momentum of the line rather than the current position, which is flattening. When the price of a crosses it's EMA -26 that means a short term pump is well within the realm of possibility. The horizontal line is to represent the support level XRP has found, it has 5 confirmation points within the last month if you zoom out to the 1M time scale. These points have been highlighted with yellow ellipses on the graph. I understand that the wicks drop through this "support" bar but that is because this is a rough estimation, what is more likely is that the support is within $0.02(2 cents) of that line which is pegged at ~$0.285(about 28.5 cents). If the trend does not break out to the upside it is safe to say it will settle closer to the support level and consolidate along that for some time as it has been for about a month.
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.