XRP Ripple at a turning point

Updated

Bitcoin' made a small bear trap and just pushed up with alts making similar moves. XRP is still moving inside of this channel (possible bull flag). If it breaks that channel and actually even that red resistance around 0.465, we could see another wave up towards the 0.6 again. Anything inside the channel is still high risk, below the red zone is a bit risky.

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It looks like it wants to break up, but Bitcoin is still moving sideways and is still not taking a clear direction. If XRP breaks this resistance, we need to see the buy volume increase, if the break out happens with low volume, the attempt will fail sooner or later. If we see volume, the chances for 0.6ish will be much higher

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This is what i meant, low volume break out. This is not enough! Bitcoin is trying to move up, but also lack of volume. So too dangerous to get in with this volume

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Wrong chart sorry :)

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They are pushing a little bit on Bitocin again and XRP is starting to go higher as well with a small volume increase along with it. So things are looking better now.

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Still below that red resistance zone AND still low volume. So we might see a retest of the flag trend line again. So the bulls are a bit in favor, but the volume has to kick in at some point to make this rally a succes.

The 0.46ish looks like a solid support level, best case it stays above that level. Bitcoin is also having some resistance now, so without Bitcoin moving slowly up again, it will be very difficult for the alt coins to move up of course. So the whole market is at a turning point now.

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Looks like that green support did it's work already, if yesterday's highs break we could see allot more upwards movement if volume will follow the upwards move as well. Could also be a possible inverse H&S

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Bulls made another attempt but volume did not follow, here we see WHY i keep saying volume is very important. If the price stays above the blue zone, it could still work out as a pullback. If we drop too much from, it will become a failed breakout attempt which could lead to a countermove downwards.

botje11

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