XRP / USD / TA
Here we take both XRP pairs which are USD and and look for similarities or any patterns. Here we find that both pairs are sitting on major supports. 700+ Days worth of strong for XRP / USD and 500+ Days worth of strong for XRP / pairs.
Reason we are highlighting these and putting that much weight on them is due to both of them being nearly 17 Month Long for pair and nearly 24 Month long for USD pair. That’s very substantial for traders and holders as it shows that XRP was able to hold that trend for a very long period which is unusual for crypto where most get broken within just a few month.
Subsequently we also have Long positions piling up which we would take a bear sign if XRP was rising, however since we see downward movement from XRP and LONG positions accumulating higher on daily basis, that also indicates a momentum that may be very close for XRP.
Nevertheless, we should note that break of the is also likely due to the weak crypto market overall, unless we see XRP decouple from . Short term all eyes on that with anticipation for very strong bounce which would transition into immense upward momentum and buy in pressure.
Below are addition XRP TA analysis
Published at Sat, 13 Apr 2019 22:16:26 +0000
