XRP OUTLOOK
Monthly: XRP saw a 25% decrease in the month of DEC after seeing a 70% gain nov. Considering the overall market has been in a downward pull you can see there is demand at the .50 mark.
Weekly: (Legacy line) The previous week closed with a spinning top giving us an indication of a pullback week. This weeks candle close has now engulfed the spinning tops lower week. WIth that said we could see a sideways week next week before seeing a definite direction upward or downward.
Daily: RSI has come out of the overbought territory and now considered to be oversold. The daily has seen multiple points of contact on the lower trendline with buyers coming to support the demand zone (.48-.52) The next low pivot (max pain) for bulls is .40. That max pain to maintain our bullish outlook.
Intraday: 4h chart is still under the 50ma and hasn't recovered above since the 4th. Right now we see .56 being the sell off zone in this current downward trend. If that level can clear we will see a shift in sentiment and start to see higher lows instead of lower highs.
News:
Sentiment: Bullish
XRPUSDXRPUSD
Weekly: (Legacy line) The previous week closed with a spinning top giving us an indication of a pullback week. This weeks candle close has now engulfed the spinning tops lower week. WIth that said we could see a sideways week next week before seeing a definite direction upward or downward.
Daily: RSI has come out of the overbought territory and now considered to be oversold. The daily has seen multiple points of contact on the lower trendline with buyers coming to support the demand zone (.48-.52) The next low pivot (max pain) for bulls is .40. That max pain to maintain our bullish outlook.
Intraday: 4h chart is still under the 50ma and hasn't recovered above since the 4th. Right now we see .56 being the sell off zone in this current downward trend. If that level can clear we will see a shift in sentiment and start to see higher lows instead of lower highs.
News:
Sentiment: Bullish
XRPUSDXRPUSD
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