XRP TO SEE SOME BREATHING SPACE BEFORE BEING SUFFOCATED!
XRP MID-WEEK ROUND UP
Welcome to another episode of our favourite show - ALT-COINS brought to you by FELIX!
Since our last breakdown XRP saw a rejection from just below 0.41$. Initially, I had stated to priority members and also, VIP members to long from 0.33$ to 0.43$ and here we would see a major ceiling, which would knock us back down to 0.30$.
Now, what has occurred ?
- XRP saw support at 0.29$ after melting from 0.40$ as predicted. Now remember that in the medium term, we still expect our next targets of 0.25$ and 0.15$ to be achieved with the next BTC meltdown below 2950$ as predicted. Therefore, for any HODLERS out there, the time is not quite right to HODL XRP just yet and further down action is still necessary.
1 HOUR BREAKDOWN
- We can see that XRP used the 40 LEVEL on RSI as support and in accordance with this the 47 level on RSI/ROC was also used as support. I am mentioning these specific levels on our momentum indicators because they hold strong value.
- We can also see that MA inside scalpers channel is being used as support currently. With respect to the 200 EMA, we can see that on the hourly it is acting as resistance just at the 0.33$ mark, so this will be a zone to keep an eye out for a rejection. A break of this zone will also mean that there are bullish price action confirmations to the next major ceiling at 0.38$.
- None the less, as we can see on our momentum indicators on the hourly charts, XRP bull activity is running out of momentum on the 1 hourly and a rejection from just below the 60 level on RSI/ROC will lead back to support at 47 LEVEL, where we can think about opening long positions once again with tight stops.
4 HOURLY BREAKDOWN
- We can see that again XRP is currently at support zones across our momentum indicators. None the less, as can be seen on RSI indicator that the tiny pump from 0.29$ to 0.31$ has already caused XRP to jump to near oversold regions on the 4 hourly RSI, with first major resistance coming in at 70 level RSI. This is not quite the same on RSI/ROC indicating that we will most definitely see highs of 0.34$ being created on the intra-day basis - we can also see that previous resistance trend line is now acting as a supporting trend line.
- On the 4 hourly, we can also see that wicks to 0.34$ need to be filled to the upside before any real bearish activity begins.
- This is all in line with our range-based analysis of BTC.
- 200 EMA for XRP at 0.38$, indicating that this level could most definitely be tested before real resistance to the downside begins.
DAILY BREAKDOWN
- On the daily charts for XRP, we can see that we should not expect any real long term bullish activity as we still lay below previous support zone of 47 level on RSI/ROC - this level should now become a major resistance.
- None the less, RSI on daily showing bullish activity with projected level of rejection coming in at 40 level RSI, which lies just at previous supporting trend line (BLUE) now a firm resistance lies at this level.
- From a fundamental perspective, we can definitely rule out any bull activity above 0.41$ and previous price floor is currently at 0.377$ and a test of this zone would validate simple market concepts of breaking floors and retesting them as ceilings.
SL levels - 0.300-0.2970$
ENSURE TO FOLLOW OUR INSTAGRAM PAGE DOWN BELOW AND CLICK THE LINK IN THE BIO FOR OUR VIP CHANNEL TO STAY UP TO DATE!
Welcome to another episode of our favourite show - ALT-COINS brought to you by FELIX!
Since our last breakdown XRP saw a rejection from just below 0.41$. Initially, I had stated to priority members and also, VIP members to long from 0.33$ to 0.43$ and here we would see a major ceiling, which would knock us back down to 0.30$.
Now, what has occurred ?
- XRP saw support at 0.29$ after melting from 0.40$ as predicted. Now remember that in the medium term, we still expect our next targets of 0.25$ and 0.15$ to be achieved with the next BTC meltdown below 2950$ as predicted. Therefore, for any HODLERS out there, the time is not quite right to HODL XRP just yet and further down action is still necessary.
1 HOUR BREAKDOWN
- We can see that XRP used the 40 LEVEL on RSI as support and in accordance with this the 47 level on RSI/ROC was also used as support. I am mentioning these specific levels on our momentum indicators because they hold strong value.
- We can also see that MA inside scalpers channel is being used as support currently. With respect to the 200 EMA, we can see that on the hourly it is acting as resistance just at the 0.33$ mark, so this will be a zone to keep an eye out for a rejection. A break of this zone will also mean that there are bullish price action confirmations to the next major ceiling at 0.38$.
- None the less, as we can see on our momentum indicators on the hourly charts, XRP bull activity is running out of momentum on the 1 hourly and a rejection from just below the 60 level on RSI/ROC will lead back to support at 47 LEVEL, where we can think about opening long positions once again with tight stops.
4 HOURLY BREAKDOWN
- We can see that again XRP is currently at support zones across our momentum indicators. None the less, as can be seen on RSI indicator that the tiny pump from 0.29$ to 0.31$ has already caused XRP to jump to near oversold regions on the 4 hourly RSI, with first major resistance coming in at 70 level RSI. This is not quite the same on RSI/ROC indicating that we will most definitely see highs of 0.34$ being created on the intra-day basis - we can also see that previous resistance trend line is now acting as a supporting trend line.
- On the 4 hourly, we can also see that wicks to 0.34$ need to be filled to the upside before any real bearish activity begins.
- This is all in line with our range-based analysis of BTC.
- 200 EMA for XRP at 0.38$, indicating that this level could most definitely be tested before real resistance to the downside begins.
DAILY BREAKDOWN
- On the daily charts for XRP, we can see that we should not expect any real long term bullish activity as we still lay below previous support zone of 47 level on RSI/ROC - this level should now become a major resistance.
- None the less, RSI on daily showing bullish activity with projected level of rejection coming in at 40 level RSI, which lies just at previous supporting trend line (BLUE) now a firm resistance lies at this level.
- From a fundamental perspective, we can definitely rule out any bull activity above 0.41$ and previous price floor is currently at 0.377$ and a test of this zone would validate simple market concepts of breaking floors and retesting them as ceilings.
SL levels - 0.300-0.2970$
ENSURE TO FOLLOW OUR INSTAGRAM PAGE DOWN BELOW AND CLICK THE LINK IN THE BIO FOR OUR VIP CHANNEL TO STAY UP TO DATE!
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