But at noon the situation has changed and we see the beginning of a small correction.
XRP has reached a new ATH - what it has done regularly in the last days. So nothing new.
But what has changed are the indicators (1h-candles):
has surpassed the climax and is descending.
is still in positive zone but weakening
is below 20
and are near to each other - what indicates that the trend is not significant and in combination with the falling this signals a falling momentun; one can say there is no wind in the sails! (translated out of german)
RSI: has left the overbought zone above 70 and is falling to neutral zone
MACD: 12 (blue) has triggered 26 (orange) from top to down - this is a negative sign
The longer time candles (> 2h) aren´t signalling a change in direction yet! So perhaps I´m wrong, but I can imagine at this point a little correction to the last retracement 261.8% (2,93$).
Definetliy no entry-point!
XRP is now in a new - negative - trend channel. It stays well below the older fib retracement at 261.8% and even below a newer fib retracement at 78.6%.
To stop the new trend XRP must leave the negative channel on the upside and break the two mentioned resistance lines.