XRP Bullish is possible!
XRP formed a candlestick pattern on the day on April 29, which has resolved to the upside today. The bulls managed to push the price above the 61.8% Fib retracement level to $ 1.55, indicating strength.
If we realize it, we find the same as in most cryptocurrencies, 9 bearish candles.
If we notice XRP has managed to get above the SMA50 and EMA20 indicating that the bulls are trying to drive the price higher.
If we realize the RSI is above 61 if the bulls manage to overcome the resistance and not go down from the EMA20 we could see an attempt to trigger the indicator to 78 thereby bringing the price to 1.9 usdt
And the MACD indicator is trying to carry higher. If we notice though we don't see too much force at present to indicate a bullish.
4h chart
On the 4h chart we obviously see that the bulls managed to regain strength in a possible dip, which means that they are really trying to push XRP higher.
If the bulls sustain the price above $1.55, the XRP rally to $1.7 and then retest the 52-week high at $1.9. The rising 20-day EMA ($1.29) and the RSI near 64 suggest the bulls have the upper hand.
Contrary to this assumption, if the bears pull the price back below $1.5 it will suggest profit-booking at higher levels. A break below the 20-day EMA will indicate the bullish momentum has weakened and that could keep the pair range-bound for a few days.
Although it should be added that XRP is having certain legal problems so a loss of the current bullish force is totally probable. Be careful with this. I recommend always informing you.
If we realize it, we find the same as in most cryptocurrencies, 9 bearish candles.
If we notice XRP has managed to get above the SMA50 and EMA20 indicating that the bulls are trying to drive the price higher.
If we realize the RSI is above 61 if the bulls manage to overcome the resistance and not go down from the EMA20 we could see an attempt to trigger the indicator to 78 thereby bringing the price to 1.9 usdt
And the MACD indicator is trying to carry higher. If we notice though we don't see too much force at present to indicate a bullish.
4h chart
On the 4h chart we obviously see that the bulls managed to regain strength in a possible dip, which means that they are really trying to push XRP higher.
If the bulls sustain the price above $1.55, the XRP rally to $1.7 and then retest the 52-week high at $1.9. The rising 20-day EMA ($1.29) and the RSI near 64 suggest the bulls have the upper hand.
Contrary to this assumption, if the bears pull the price back below $1.5 it will suggest profit-booking at higher levels. A break below the 20-day EMA will indicate the bullish momentum has weakened and that could keep the pair range-bound for a few days.
Although it should be added that XRP is having certain legal problems so a loss of the current bullish force is totally probable. Be careful with this. I recommend always informing you.
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