📈 Hi! Quick and Important XRP Analysis 📈
📈 Thanks for joining ladies and gentlemen! Gonna keep this idea simple but important! So tune in, and thank you for joining me for a few minutes of your day.
📈 It's good to see that XRP has managed to pull up regaining that 200 EMA after what was some sideways trading with XRP managing to regain the 200 EMA for the 3rd time and get the confirmation traders needed once a higher high formed on the local.
📈 Yesterday's idea was on the fact that we'd exited that consolidation channel and wanted to keep out and above it which traders managed to execute. We did nearly fall back in once but no doubt some whale or big buyer bought in at that 0.514 mark to help us avoid falling back in.
📈 I've added a second consolidation channel on the 15 minute since we can identify as well how once that was broken we got the catalyst we needed breaking above 0.52 which ultimately helped with the pretty big rocket up. Like I said yesterday we'll have some bad weeks but just as we'll have some we'll also have good ones. Keep steadfast.
📈 Below is then a very important chart I'd like you guys to check out real quick, speaks for itself.
📈 I made things simple as possible adding the white text bubbles to annotate the support points and as my main bubble already explains, none of these lines I have are new. I haven't added a new horizontal level in what's probably been over a week or two and that was at the higher levels prior to our drop. And yet the chart is following so close to those horizontal lines still.
📈 Signifies that traders still have those lines marked and are watching them just as we are. For example right now the goal is to keep above 0.54192, if we fell below that the next support would be at 0.535 and so on. What matters is that XRP is still keeping a very close correlation to it's historical support and resistance levels. And just as that's possible for the ones down here, it'll be possible for the ones above and the ones on our longer timeframe's/ the big picture. It's basically positive news.
📈 With that being said I told you guys I would keep the idea short and important and so we'll leave it at that, with a big impulse wave wave up and a lower high on the local we'll likely bounce back down to that 0.53 point and search for support or find a new consolidation channel around here to test the waters again. I mean we can't deny that we had a pretty big move up quick and with that traders will be hesitant to buy and a lot more trigger happy with that sell but also not too sure of which way things could go being that bitcoin is leading the way.
📈 Basically it's anyone's game right now after a big move up like this, we want to avoid losing that 200 EMA of course but if we do lose it refer to the 15 minute, seems to be the biggest catalyst/confirmation for the market right now.
📈 That's it for today's idea, I've rambled enough but hope that helps out a bit, just wanted to give some quick thoughts and all. And as always any likes or follows are always appreciated, simply trying to do my best for you guys as always and fighting on. Thanks and have a great day.
~ Rock '
📈 It's good to see that XRP has managed to pull up regaining that 200 EMA after what was some sideways trading with XRP managing to regain the 200 EMA for the 3rd time and get the confirmation traders needed once a higher high formed on the local.
📈 Yesterday's idea was on the fact that we'd exited that consolidation channel and wanted to keep out and above it which traders managed to execute. We did nearly fall back in once but no doubt some whale or big buyer bought in at that 0.514 mark to help us avoid falling back in.
📈 I've added a second consolidation channel on the 15 minute since we can identify as well how once that was broken we got the catalyst we needed breaking above 0.52 which ultimately helped with the pretty big rocket up. Like I said yesterday we'll have some bad weeks but just as we'll have some we'll also have good ones. Keep steadfast.
📈 Below is then a very important chart I'd like you guys to check out real quick, speaks for itself.
📈 I made things simple as possible adding the white text bubbles to annotate the support points and as my main bubble already explains, none of these lines I have are new. I haven't added a new horizontal level in what's probably been over a week or two and that was at the higher levels prior to our drop. And yet the chart is following so close to those horizontal lines still.
📈 Signifies that traders still have those lines marked and are watching them just as we are. For example right now the goal is to keep above 0.54192, if we fell below that the next support would be at 0.535 and so on. What matters is that XRP is still keeping a very close correlation to it's historical support and resistance levels. And just as that's possible for the ones down here, it'll be possible for the ones above and the ones on our longer timeframe's/ the big picture. It's basically positive news.
📈 With that being said I told you guys I would keep the idea short and important and so we'll leave it at that, with a big impulse wave wave up and a lower high on the local we'll likely bounce back down to that 0.53 point and search for support or find a new consolidation channel around here to test the waters again. I mean we can't deny that we had a pretty big move up quick and with that traders will be hesitant to buy and a lot more trigger happy with that sell but also not too sure of which way things could go being that bitcoin is leading the way.
📈 Basically it's anyone's game right now after a big move up like this, we want to avoid losing that 200 EMA of course but if we do lose it refer to the 15 minute, seems to be the biggest catalyst/confirmation for the market right now.
📈 That's it for today's idea, I've rambled enough but hope that helps out a bit, just wanted to give some quick thoughts and all. And as always any likes or follows are always appreciated, simply trying to do my best for you guys as always and fighting on. Thanks and have a great day.
~ Rock '
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