Hey, I am back with another Technical Analysis, looking again at Ripple.
I was looking at Ripple few times before, each time before Ripple was looking ready for another moon shot, but have seen only few % grow.
As I was looking at the BTC chart I knew I have seen this same pattern before..
So I have opened a XRP/USD graph and it looks like the same old good pattern, this time not that long (12 up to 21 days compared to 200) but anyway it can lead to an first impulsive wave than can lead to a breakout.
Ripple is great utility coin that is being adopted so far by Japanese and American Banks, Walmart and Apple.
The only thing is that reportedly, 60% of coins is held by creators.
Taking look at the chart.
There is a clear pennant being formed, compare it to the last one that ended up with huge breakout.
Taking look at the Indicators.
BB - Shows great volatility, staying in the Triangle for now.
MACD - Undecisive.. Keeping it real, staying in the triangle, no major movements should occur as sellers and buyers are almost at same level.
RSI - Whenever was Ripple low on RSI, always have seen pretty pump, that shows demand for this coin. Again going crazy, once up another time down, good for this pennant. 52 being the key level.
I think thats about it.
Hope I made your view on whats going on with Ripple somehow clearer.
If you like this TA let me know in the comments, Likes are aprreciated, Thanks !
If this gets a little bit of attention, I will update!
I was looking at Ripple few times before, each time before Ripple was looking ready for another moon shot, but have seen only few % grow.
As I was looking at the BTC chart I knew I have seen this same pattern before..
So I have opened a XRP/USD graph and it looks like the same old good pattern, this time not that long (12 up to 21 days compared to 200) but anyway it can lead to an first impulsive wave than can lead to a breakout.
Ripple is great utility coin that is being adopted so far by Japanese and American Banks, Walmart and Apple.
The only thing is that reportedly, 60% of coins is held by creators.
Taking look at the chart.
There is a clear pennant being formed, compare it to the last one that ended up with huge breakout.
Taking look at the Indicators.
BB - Shows great volatility, staying in the Triangle for now.
MACD - Undecisive.. Keeping it real, staying in the triangle, no major movements should occur as sellers and buyers are almost at same level.
RSI - Whenever was Ripple low on RSI, always have seen pretty pump, that shows demand for this coin. Again going crazy, once up another time down, good for this pennant. 52 being the key level.
I think thats about it.
Hope I made your view on whats going on with Ripple somehow clearer.
If you like this TA let me know in the comments, Likes are aprreciated, Thanks !
If this gets a little bit of attention, I will update!
Note
discordapp.com/channels/350288933055365120/439757087736856596MACD buy signal is crossing.
Stoch going upwards.
Only RSI needs to break ressitance and the Pattern will be follown.
Note
Ups, Wrong link Note
Ripple Struggling a bit.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.