XP Update
Updated
XRP continues lateral movements to within the larger downtrend.
The 18 and 12 hour MACD are showing signs of convergence that indicate a downturn is possible.
The Fib retracement placed on the new low and the last high show that XRP reacted normally with a .786 retracement to rebound to .50. It is possible that a .382 rebound can occur.
In order for me to consider a breakout, XRP must sustain a level greater than 1.05 for a 30 day period.
With that said, XRP continues to be a good proposition for long term accumulations.
I have small buys at present prices with larger buys set in the .40 ranges.
I believe that XRP will retest the lows at
the range of .39 and .45 one more time this month.
I do expect a bull run in July to test the 1.18 due to increased demand of BTC with new larger trading platforms and funds.
My expectation is due to a non related event that occurred with REGI in May resulting from a higher exposure to a select market in the S&P.
The 18 and 12 hour MACD are showing signs of convergence that indicate a downturn is possible.
The Fib retracement placed on the new low and the last high show that XRP reacted normally with a .786 retracement to rebound to .50. It is possible that a .382 rebound can occur.
In order for me to consider a breakout, XRP must sustain a level greater than 1.05 for a 30 day period.
With that said, XRP continues to be a good proposition for long term accumulations.
I have small buys at present prices with larger buys set in the .40 ranges.
I believe that XRP will retest the lows at
the range of .39 and .45 one more time this month.
I do expect a bull run in July to test the 1.18 due to increased demand of BTC with new larger trading platforms and funds.
My expectation is due to a non related event that occurred with REGI in May resulting from a higher exposure to a select market in the S&P.
Note
18 hour lookNote
18 hour look with converging MACDNote
12 hour look wit converging MACD to downsideNote
Better look at 12 hour with better reference to MACDNote
This assessment has not changedNote
On the lower 12 hour chart, XRP has crossed the PSAR, MACD convergence is nearly closed and Bollinger B is turning to the lower. These are indicators that a possible short is in order.Note
This assessment holds true as XRP continues small down pressureNote
This update is very active and I am paying close attentionNote
Ok, so now we have a clear direction and continuation of the downtrend. Short term looks are calling a double bottom. However, I am not. A double bottom will occur at the low of .45 ish. I expect this to happen now. I have set my buy at that level for DCA. It is interesting to note that my very first comment to this chart is dead on. I expect a range of .39 to .45 before another uptick.
XRP is still in bearish trend.
Note
Also, note that .23 is now on the table as a new low based on a fib retracement in the original chart.Note
Also, I use the term double bottom in conjunction with a charted Low. Thus, in my terms, a true double bottom will form at .45 range.
Note
A better Snapshot to review. Note
This is still working to the lower. We are a fib .886 support level. I have not changed my assessment.Note
This continues to hold true to my original assessment.Note
This assesment is completed. I am preparing for a now low at .31Note
New Low .31
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