Here is my analysis on XRPUSD. As you can see, we are in a clear downtrend and we have a lot of barriers to break until we break the overall downtrend and push to all time highs (we can hope!)
The first area I’m monitoring is the $0.18-20 area, we’ve got a clear downtrend that has held from the 15th of Febuary to this date, I would like to see a breakout and re-test of this level before continuing up.
The second area I will be monitoring is the $0.22-26 area. We have some key levels here, as well as a number of EMA’s that may keep price from going up. I find EMA’s pretty reliable as a confluence, as there always seems to be some form of pullback - so this is a vital are to break in order to see more upside.
If we make it this far, it should be clear traffic between the $0.26 and $0.34 area until we are met with two strong downwards trendlines and a strong key level where price collapsed previously. If we break these trendlines and key level, then we could see XRP on it’s path to all time highs!
My prediction is that we may see a bull run (or correction in BTC) when BTC halving comes into play - which will most likely mean that XRP and other Altcoins follow suit.
Let me know what you think below - cheers!
