Ripple (XRP) Technical Analysis: RIPE FOR A BREAKOUT

in #cryptocurrency6 years ago (edited)

Analysis_Logo Resize.png

Zooming out on the daily chart, we can see Ripple is very near the apex of a larger falling wedge. Probability tells us when the breakout occurs, it will be up.

Screen Shot 2018-09-02 at 4.32.11 PM.png

The 1 week MACD continues to show clear bullish divergence....more evidence of a bullish breakout.

Screen Shot 2018-09-02 at 4.33.26 PM.png

The 4 hour chart reveals the 8,21 and 55 day EMA, as well as the 50 and 200 day MA, all converging on each other. This is commonly seen prior to a major move up or down.

Screen Shot 2018-09-02 at 4.43.21 PM.png

Zooming in on the 4 hour chart, we can see price is approaching the apex of a smaller wedge. It’s also approaching the upper resistance line of the larger wedge. This suggests a possible bullish break up if the resistance is broken. If price is rejected off the larger wedge, we could see 1 more wave down. Here’s how both scenarios may play out:

Screen Shot 2018-09-02 at 4.41.59 PM.png

In today’s video analysis, I discuss trade entry points, where price may be moving over the coming days and weeks, traps to avoid and MUCH more information not found above. I hope you find it helpful.

Video Analysis:

If you’re viewing this on a site other than Steemit, and you don’t see the above video, navigate to Steemit or TIMM (https://mentormarket.io/profile/@workin2005?aff_id=Workin2005) in order to watch.

BIAS:

Short Term: Neutral
Longterm: Bullish

I hope this has been helpful. I’d be happy to answer any questions in the comment section below. Until next time, wishing you safe and profitable trading!

Workin

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Great Analyse mate

My pleasure dear

Let's see if I finally I can sell these coins at good price.
Good post

I'm seeing a lot of potential in Ripple right now....IF bitcoin doesn't collapse

Me too, despite I don't like it ;-)

I hear you. I don't not like Ripple, I just like coins like BTC and EOS much better. Still, there's a place for coins like Ripple...might as well profit from them.

If bitcoin doesn't collapse."
It makes sense :)

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