What's up traders,
Here we are analyzing XRP/USD on the 2H chart.
As you all will know, we keep a very close on Ripple, and have been posting many analysis in relation to it. If you review my previous Ripple, you'll see we predicted the down move perfectly, and our trading plan on the pair is going exactly as planned, along with our Bitcoin and Ethereum -5.11% analysis we posted, which are also going exactly as we intended it to. I congratulate everyone who has been following all my Ripple analysis as of recent times, as you would have been in the right direction of the market every time. I am glad to be able to be a one stop shop for you guys and show you the true market conditions in my analysis!
Ripple is currently trading at 0.6040 after a considerable free fall after a peak on 17th March at 0.6910 showed us a shooting star signal at resistance, giving the signal that Ripple was going to drop hard. Price has almost completed the move to the target previously predicted. As it stands, there is 2 support levels that can now come into play. We have a support at 0.5730, which is the horizontal support, and finally we have the horizontal support zone, which is Ripple's low at 0.4980.
After the corrective move has finished, I am expecting the bulls to be buying in large quantity.
Bare in mind, that a retest is very good for creating a new position. And I'll also be an eager buyer when it hits one of these supports and acts in line with my rules for engaging this trade.
I will update this analysis when I receive above 40 likes.
Here we are analyzing XRP/USD on the 2H chart.
As you all will know, we keep a very close on Ripple, and have been posting many analysis in relation to it. If you review my previous Ripple, you'll see we predicted the down move perfectly, and our trading plan on the pair is going exactly as planned, along with our Bitcoin and Ethereum -5.11% analysis we posted, which are also going exactly as we intended it to. I congratulate everyone who has been following all my Ripple analysis as of recent times, as you would have been in the right direction of the market every time. I am glad to be able to be a one stop shop for you guys and show you the true market conditions in my analysis!
Ripple is currently trading at 0.6040 after a considerable free fall after a peak on 17th March at 0.6910 showed us a shooting star signal at resistance, giving the signal that Ripple was going to drop hard. Price has almost completed the move to the target previously predicted. As it stands, there is 2 support levels that can now come into play. We have a support at 0.5730, which is the horizontal support, and finally we have the horizontal support zone, which is Ripple's low at 0.4980.
After the corrective move has finished, I am expecting the bulls to be buying in large quantity.
Bare in mind, that a retest is very good for creating a new position. And I'll also be an eager buyer when it hits one of these supports and acts in line with my rules for engaging this trade.
I will update this analysis when I receive above 40 likes.
