XRP USD DAILY TECHNICALS (4/29/2021)Good morning- crypto ger here for another xrp update- today is Thursday April 29, 2021.
Before we get into the technicals and all the fun stuff- please know that this is not financial advice, this is my opinion and my opinion only.
Lets talk a little about the current trend and yesterdays performance before we get into the daily outlook.
The price of xrp is up 450% ytd
Over 100% on 3 & 6 month range and 37% on the month
The weekly technicals support long positions and are now more favourable than last week- performing well above almost all moving averages-indicating a strong buy position. the oscillators are mostly neutral with a couple of buy indicators. Rsi values are in the high 60s (compared to low 70s last week) & cci is now 163 compared to over 200 last week- these indicators on their own are both neatural compared to sell last week. The bull bear power index is now a 0.6 compared to 1.1 which is still neutral and lastly the macd is still reporting a 0.21 which is a buy. Weekly technicals are a buy
Recapping yesterday-
XRP declined by 3% reversing a gain of 3% the day prior.
XRP hit an intraday high of 1.44 before hitting reverse.
XRP broke through the first major support level before hitting the late intraday low of 1.33 and broke back through major support levels
For the day ahead-
XRP will need to move throught the pivot level to bring major resitance levels into play.
Support from the broader market will be needed to break back through the 1.45s.
Failure to move through the pivot brings support levels into paly
XRP should steer clear of sub 1.20
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