XRP Sideways Market and Long Term Trend
Updated
Weekly Moving Average
We have a death-cross on the weekly 50-100 MA. That is bearish.
The 50 MA is flattening out slowly, that is a good sign for stabilization (sideways market), imo.
The 100-200 MA are still pointing upwards, so the overall long market trend of XRP is up, imo.
Price ranges below 50-100 MA, above 200 MA. It may test 200 if the bear market continues, or it gets pulled toward 50-100.
Price Range
I made the green boxes to show where I believe the price will range for a while.
I believe we are in sideways market now. Accumulation, one may say.
Imo, the following tips are correct:
investinghaven.com/crypto-blockchain/50-cryptocurrency-investing-tips-2019-2020/
"Tip # 42: Consolidations create a very bullish long term outlook for any asset or market. Essentially, during sideways trading, sellers tend to leave the market every time the price peaks. If a consolidation goes on long enough all sellers leave this market. That’s the ideal market condition for a new bullish trend.
Tip # 44: The saying goes “the bigger the base, the higher in space” which means that the longer a sideways consolidation period the more bullish power because there are less sellers in that market. That’s what’s happening in the crypto market right now.
Tip # 45: Identifying and tracking consolidations on monthly and weekly timeframes is key to identify when the new bull market starts."
We have a death-cross on the weekly 50-100 MA. That is bearish.
The 50 MA is flattening out slowly, that is a good sign for stabilization (sideways market), imo.
The 100-200 MA are still pointing upwards, so the overall long market trend of XRP is up, imo.
Price ranges below 50-100 MA, above 200 MA. It may test 200 if the bear market continues, or it gets pulled toward 50-100.
Price Range
I made the green boxes to show where I believe the price will range for a while.
I believe we are in sideways market now. Accumulation, one may say.
Imo, the following tips are correct:
investinghaven.com/crypto-blockchain/50-cryptocurrency-investing-tips-2019-2020/
"Tip # 42: Consolidations create a very bullish long term outlook for any asset or market. Essentially, during sideways trading, sellers tend to leave the market every time the price peaks. If a consolidation goes on long enough all sellers leave this market. That’s the ideal market condition for a new bullish trend.
Tip # 44: The saying goes “the bigger the base, the higher in space” which means that the longer a sideways consolidation period the more bullish power because there are less sellers in that market. That’s what’s happening in the crypto market right now.
Tip # 45: Identifying and tracking consolidations on monthly and weekly timeframes is key to identify when the new bull market starts."
Note
The XRPBTC chart shows us the same picture:100-200 weeky MA pointing up.
The overall trend is up.
XRP gains relative strengh agains Bitcoin.
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