XRP | micro to monthly timeframe analysis
Hello Everyone,
XRP has a lot of potential in the future and I'm sure that, XRP will make a new all-time high in the next bull market.
on 4h time frame we can see that we have a strong resistance around 0.516 and breaking it would give us a good buying opportunity.
with targets of 0.545 - 0.57 - 0.6
On weekly frame it's kinda bullish as we closed the last week candle above 200MA (the red moving average)
- if the current candle closed today above 200MA and didn't close under it we may take the risk and place a market buying order with stop-loss closing weekly under 0.45
- recommended risk for such trade is -0.25% and risk-reward ratio is 1:6 which is very good in my opinion.
- but the previous scenario is kinda weak and I think we may see a lower prices that will give us a better entry point.
- in my opinion, the best entry point for XRP is around 0.45 to 0.4 and a good DCA from now to 0.4 will be perfect for mid and long term
On Monthly frame (log scale):
on monthly frame it's half half between bulls and bears and the next move on monthly frame is unpredictable cause there are a mixed bulish and bearish signals.
why ?
- we are under the bearish trend line resistance and till now bulls are not able to break this resistance.
- if bulls were able to break this trend line resistance, the door will be open to test 0.81 (till now it's a weak scenario)
- all this green horizontal lines are a very strong support and can stop any drop in the prices and can be a very good entry points for bulls
- the positive thing is we are already broke the 20MA resistance and it became our support now
XRP has a lot of potential in the future and I'm sure that, XRP will make a new all-time high in the next bull market.
on 4h time frame we can see that we have a strong resistance around 0.516 and breaking it would give us a good buying opportunity.
with targets of 0.545 - 0.57 - 0.6
On weekly frame it's kinda bullish as we closed the last week candle above 200MA (the red moving average)
- if the current candle closed today above 200MA and didn't close under it we may take the risk and place a market buying order with stop-loss closing weekly under 0.45
- recommended risk for such trade is -0.25% and risk-reward ratio is 1:6 which is very good in my opinion.
- but the previous scenario is kinda weak and I think we may see a lower prices that will give us a better entry point.
- in my opinion, the best entry point for XRP is around 0.45 to 0.4 and a good DCA from now to 0.4 will be perfect for mid and long term
On Monthly frame (log scale):
on monthly frame it's half half between bulls and bears and the next move on monthly frame is unpredictable cause there are a mixed bulish and bearish signals.
why ?
- we are under the bearish trend line resistance and till now bulls are not able to break this resistance.
- if bulls were able to break this trend line resistance, the door will be open to test 0.81 (till now it's a weak scenario)
- all this green horizontal lines are a very strong support and can stop any drop in the prices and can be a very good entry points for bulls
- the positive thing is we are already broke the 20MA resistance and it became our support now
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