A potential big move for XRP is looming with a slight bias (60%) towards the upside. If prices do come down to retest lower levels I expect a move up shortly after.
Although it looks like XRP is bottoming out around 0.41 cents take note that short-term spikes towards 0.37 cents are not out the realm of possibilities due to high volatility in the market.
ANALYSIS
Technicals:
- XRP has formed a symmetrical triangle
- Currently ranging in the middle of 2 big volume price targets (blue lines).
- Increasingly tight consolidation (BB is narrowing).
Energetically:
A new moon is set to happen on the 19th of May. Prices are more likely to move upwards within a 5-day range around the new moon (between 15-24 May), right before crashing down or consolidating.
News:
Odd behaviour by the SEC since they just dropped crypto firm LBRY's fine from 22M to 111K. Is there a possible settlement/court decision for the SEC-Ripple lawsuit on the horizon?
Disclaimer: Non-Financial Advice
The information provided in this analysis is for informational purposes only and should not be considered as financial or investment advice. The analysis presented here is based on historical and current data, market trends, and personal interpretation, and it may not accurately predict future market behavior.
Although it looks like XRP is bottoming out around 0.41 cents take note that short-term spikes towards 0.37 cents are not out the realm of possibilities due to high volatility in the market.
ANALYSIS
Technicals:
- XRP has formed a symmetrical triangle
- Currently ranging in the middle of 2 big volume price targets (blue lines).
- Increasingly tight consolidation (BB is narrowing).
Energetically:
A new moon is set to happen on the 19th of May. Prices are more likely to move upwards within a 5-day range around the new moon (between 15-24 May), right before crashing down or consolidating.
News:
Odd behaviour by the SEC since they just dropped crypto firm LBRY's fine from 22M to 111K. Is there a possible settlement/court decision for the SEC-Ripple lawsuit on the horizon?
Disclaimer: Non-Financial Advice
The information provided in this analysis is for informational purposes only and should not be considered as financial or investment advice. The analysis presented here is based on historical and current data, market trends, and personal interpretation, and it may not accurately predict future market behavior.
Comment:
A strong 4H candle close above 0.43 cents would be preferred to confirm further upwards movement towards 0.44 cents and higher.
Comment:
Prices exactly tipped the price volume target (blue line)! 🚀
Currently we are below the 0.236 fib level around 0.4520 cents, which could be a short term resistance level, potentially forcing price to fall back into the downwards channel and testing 0.4375 cents again 🐻
However if we slightly adjust the upper (white) line of the downwards channel it looks like the price is back-testing. This could mean we might be heading up.
What do you think? Are we going back down to test <0.4375 or will we be going to the 🌕 moon? Share your thoughts in the comments down below.
**A updated version of this chart is coming soon.**
Currently we are below the 0.236 fib level around 0.4520 cents, which could be a short term resistance level, potentially forcing price to fall back into the downwards channel and testing 0.4375 cents again 🐻
However if we slightly adjust the upper (white) line of the downwards channel it looks like the price is back-testing. This could mean we might be heading up.
What do you think? Are we going back down to test <0.4375 or will we be going to the 🌕 moon? Share your thoughts in the comments down below.
**A updated version of this chart is coming soon.**
Comment:
Updated version of this chart is available (see related ideas)
