Here's my analysis for xrp
At this moment in time, I believe this downwards move is to get the weak investors out of the markets before we see a bullish move up.
The price of xrp could drop from here and hit the daily resistance level, when a level has been retested twice, it shows that it is being respected therefore from there should be a bullish move. However, if it breaks we have one more level which it can respect, if not we could start moving bearish.
From my understanding of the markets, I believe bitcoin has the potential of going higher therefore altcoins should follow. I have tried to demonstrate what potentially could happen to xrpusd
Hope this helps
At this moment in time, I believe this downwards move is to get the weak investors out of the markets before we see a bullish move up.
The price of xrp could drop from here and hit the daily resistance level, when a level has been retested twice, it shows that it is being respected therefore from there should be a bullish move. However, if it breaks we have one more level which it can respect, if not we could start moving bearish.
From my understanding of the markets, I believe bitcoin has the potential of going higher therefore altcoins should follow. I have tried to demonstrate what potentially could happen to xrpusd
Hope this helps
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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.
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.