XRP
שורט

XP Update

מעודכן
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.
הערה
18 hour look

תמונת-בזק
הערה
18 hour look with converging MACD
תמונת-בזק
הערה
12 hour look wit converging MACD to downside
תמונת-בזק
הערה
Better look at 12 hour with better reference to MACD
תמונת-בזק
הערה
This assessment has not changed
הערה
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.
הערה
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
הערה
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.
הערה
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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תמונת-בזק

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.
הערה
A better Snapshot to review.

תמונת-בזק
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This is still working to the lower. We are a fib .886 support level. I have not changed my assessment.

תמונת-בזק
הערה
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
הערה
New Low .31
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