A lot has changed since my last review of XRP, and it's time to take a look at why I'm so bullish now:
➡️ First, two gaps have formed during the growth: from below at $2.78 - 2.44 and from above at $3.54 - 3.23. And the price is currently heading to close the upper gap.
➡️ Second, I am more than confident that the upper GAP will be closed first, as XRP is currently one of the only tokens on the entire market with harmony in purchase volumes. This means that since April, purchase volumes have continued to grow, showing increasing interest in the token even at this price.
➡️ Thirdly, yes, Money Flow shows a divergence with the price, and this ATH required much less liquidity than even the December one. However, the indicator has hardly ever dropped into the neutral zone during the year. This shows how quickly any drawdown is bought back and how many people are willing to buy.
➡️ Fourth, Dynamic Supply Demand shows that there is currently huge demand concentrated at the bottom and virtually no supply above. Particularly notable is the huge cluster of demand below the GAP, from the $2.5 level, which is also a strong psychological level.
📌 Conclusion:
XRP looks incredibly strong right now, and even if it corrects after the new ATH, closing the lower GAP, such huge demand will almost instantly buy back all the decline, and we can expect a rebound higher.
So right now, for me, XRP is one of the most promising coins for trading LTF.
➡️ First, two gaps have formed during the growth: from below at $2.78 - 2.44 and from above at $3.54 - 3.23. And the price is currently heading to close the upper gap.
➡️ Second, I am more than confident that the upper GAP will be closed first, as XRP is currently one of the only tokens on the entire market with harmony in purchase volumes. This means that since April, purchase volumes have continued to grow, showing increasing interest in the token even at this price.
➡️ Thirdly, yes, Money Flow shows a divergence with the price, and this ATH required much less liquidity than even the December one. However, the indicator has hardly ever dropped into the neutral zone during the year. This shows how quickly any drawdown is bought back and how many people are willing to buy.
➡️ Fourth, Dynamic Supply Demand shows that there is currently huge demand concentrated at the bottom and virtually no supply above. Particularly notable is the huge cluster of demand below the GAP, from the $2.5 level, which is also a strong psychological level.
📌 Conclusion:
XRP looks incredibly strong right now, and even if it corrects after the new ATH, closing the lower GAP, such huge demand will almost instantly buy back all the decline, and we can expect a rebound higher.
So right now, for me, XRP is one of the most promising coins for trading LTF.
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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.
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.