XRP continues lateral movements to within the larger downtrend.
The 18 and 12 hour MACD are showing signs of convergence that indicate a downturn is possible.
The Fib retracement placed on the new low and the last high show that XRP reacted normally with a .786 retracement to rebound to .50. It is possible that a .382 rebound can occur.
In order for me to consider a breakout, XRP must sustain a level greater than 1.05 for a 30 day period.
With that said, XRP continues to be a good proposition for long term accumulations.
I have small buys at present prices with larger buys set in the .40 ranges.
I believe that XRP will retest the lows at
the range of .39 and .45 one more time this month.
I do expect a bull run in July to test the 1.18 due to increased demand of BTC with new larger trading platforms and funds.
My expectation is due to a non related event that occurred with REGI in May resulting from a higher exposure to a select market in the S&P.
The 18 and 12 hour MACD are showing signs of convergence that indicate a downturn is possible.
The Fib retracement placed on the new low and the last high show that XRP reacted normally with a .786 retracement to rebound to .50. It is possible that a .382 rebound can occur.
In order for me to consider a breakout, XRP must sustain a level greater than 1.05 for a 30 day period.
With that said, XRP continues to be a good proposition for long term accumulations.
I have small buys at present prices with larger buys set in the .40 ranges.
I believe that XRP will retest the lows at
the range of .39 and .45 one more time this month.
I do expect a bull run in July to test the 1.18 due to increased demand of BTC with new larger trading platforms and funds.
My expectation is due to a non related event that occurred with REGI in May resulting from a higher exposure to a select market in the S&P.
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18 hour look
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18 hour look with converging MACD
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12 hour look wit converging MACD to downside
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Better look at 12 hour with better reference to MACD
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This assessment has not changed
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On the lower 12 hour chart, XRP has crossed the PSAR, MACD convergence is nearly closed and Bollinger B is turning to the lower. These are indicators that a possible short is in order.
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This assessment holds true as XRP continues small down pressure
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This update is very active and I am paying close attention
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Ok, so now we have a clear direction and continuation of the downtrend. Short term looks are calling a double bottom. However, I am not. A double bottom will occur at the low of .45 ish. I expect this to happen now. I have set my buy at that level for DCA.
It is interesting to note that my very first comment to this chart is dead on. I expect a range of .39 to .45 before another uptick.
XRP is still in bearish trend.
It is interesting to note that my very first comment to this chart is dead on. I expect a range of .39 to .45 before another uptick.
XRP is still in bearish trend.
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Also, note that .23 is now on the table as a new low based on a fib retracement in the original chart.
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Also, I use the term double bottom in conjunction with a charted Low. Thus, in my terms, a true double bottom will form at .45 range.
Also, I use the term double bottom in conjunction with a charted Low. Thus, in my terms, a true double bottom will form at .45 range.
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A better Snapshot to review.
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This is still working to the lower. We are a fib .886 support level. I have not changed my assessment.
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This continues to hold true to my original assessment.
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This assesment is completed. I am preparing for a now low at .31
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New Low .31
