$XRP Consolidation Breakout/Failure Levels $BTC $ETH $XLM
XRP holding its own to consolidate the monster run of the last couple weeks here. Although XRP has some legendarily violent shakeout moves it is currently playing between the middle fib zones which we can see this as healthy-ish consolidation.
It is currently living above my resistance trendline here, but without volume this is just looking like more consolidation to me. If price action gets above the spike high of the prior run I'd see that as a very positive indicator.
All indicators have cooled off enough from the prior run, allowing XRP to run if it wants..
RSI neutral
OBV neutral
MACD neutral
BBands tight signifying a move is imminent
Confirmation - A 2 hour close above about 17000 sat Poloniex would likely lead to a new run. Although it is important to say here that volume, especially with XRP due to its insane amount of total coins, is the true indicator to watch here. If volume starts picking up I would see that as an early sign XRP is about to run
Failure - A 2 hour close below the bottom support line, which has held up the spike low of the current consolidation period on good volume would indicate a new trend has formed.
Not financial advice.
It is currently living above my resistance trendline here, but without volume this is just looking like more consolidation to me. If price action gets above the spike high of the prior run I'd see that as a very positive indicator.
All indicators have cooled off enough from the prior run, allowing XRP to run if it wants..
RSI neutral
OBV neutral
MACD neutral
BBands tight signifying a move is imminent
Confirmation - A 2 hour close above about 17000 sat Poloniex would likely lead to a new run. Although it is important to say here that volume, especially with XRP due to its insane amount of total coins, is the true indicator to watch here. If volume starts picking up I would see that as an early sign XRP is about to run
Failure - A 2 hour close below the bottom support line, which has held up the spike low of the current consolidation period on good volume would indicate a new trend has formed.
Not financial advice.
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