$XRP, Sleeping Giant

18 באוג׳ 2019

Weekly "Trend": XRP currently in a bear trend, however, some signs of support found on the weekly. 1st sign of support is the Fibonacci retracement @ the 87% level from our swing low @ 38 satoshis to our swing high @ 22,963 satoshis. 2nd sign of support is the 2nd bounce off a possible uptrend line, meeting our subjective support drawn @ 2,700 satoshis. Bearish momentum at a momentary pause, looking for a correction. Last time we were in a descending pattern we saw a break from 4,500 satoshis as high as 11,600, this move happen in a week.


Daily "Pattern": Shifting over to our pattern timeframe we see XRP attempting to break our resistance @ 2,700, a daily close above this level and expect a nice drive towards the upside. Stochastic RSI showing momentum in favor of bulls with no signs of slowing down. Daily resistance @ 3,300 & 4,000 satoshis