Hello Everyone,
XRP has a lot of potential in the future and I'm sure that, XRP will make a new all-time high in the next bull market.
on 4h time frame we can see that we have a strong resistance around 0.516 and breaking it would give us a good buying opportunity.
with targets of 0.545 - 0.57 - 0.6
On weekly frame it's kinda bullish as we closed the last week candle above 200MA (the red moving average)
- if the current candle closed today above 200MA and didn't close under it we may take the risk and place a market buying order with stop-loss closing weekly under 0.45
- recommended risk for such trade is -0.25% and risk-reward ratio is 1:6 which is very good in my opinion.
- but the previous scenario is kinda weak and I think we may see a lower prices that will give us a better entry point.
- in my opinion, the best entry point for XRP is around 0.45 to 0.4 and a good DCA from now to 0.4 will be perfect for mid and long term
On Monthly frame (log scale):
on monthly frame it's half half between bulls and bears and the next move on monthly frame is unpredictable cause there are a mixed bulish and bearish signals.
why ?
- we are under the bearish trend line resistance and till now bulls are not able to break this resistance.
- if bulls were able to break this trend line resistance, the door will be open to test 0.81 (till now it's a weak scenario)
- all this green horizontal lines are a very strong support and can stop any drop in the prices and can be a very good entry points for bulls
- the positive thing is we are already broke the 20MA resistance and it became our support now
XRP has a lot of potential in the future and I'm sure that, XRP will make a new all-time high in the next bull market.
on 4h time frame we can see that we have a strong resistance around 0.516 and breaking it would give us a good buying opportunity.
with targets of 0.545 - 0.57 - 0.6
On weekly frame it's kinda bullish as we closed the last week candle above 200MA (the red moving average)
- if the current candle closed today above 200MA and didn't close under it we may take the risk and place a market buying order with stop-loss closing weekly under 0.45
- recommended risk for such trade is -0.25% and risk-reward ratio is 1:6 which is very good in my opinion.
- but the previous scenario is kinda weak and I think we may see a lower prices that will give us a better entry point.
- in my opinion, the best entry point for XRP is around 0.45 to 0.4 and a good DCA from now to 0.4 will be perfect for mid and long term
on monthly frame it's half half between bulls and bears and the next move on monthly frame is unpredictable cause there are a mixed bulish and bearish signals.
why ?
- we are under the bearish trend line resistance and till now bulls are not able to break this resistance.
- if bulls were able to break this trend line resistance, the door will be open to test 0.81 (till now it's a weak scenario)
- all this green horizontal lines are a very strong support and can stop any drop in the prices and can be a very good entry points for bulls
- the positive thing is we are already broke the 20MA resistance and it became our support now
