Why I think XRP is going back down, and why it's not the end
So what we're looking at is Moving Averages. An Exponential with a length of 20, and a Simple Moving average of 40 on the Day Scale.
You'll notice that the 40 is still above the value and was above the value during the entire time all crypto made a rebound. What I'm seeing here is echoed through out a lot of reversal patterns. You'll get a bounce up, but will eventually get a reversal back down. The trend-line that held XRP last September through October is the same Trendline that's holding the price above .28 now. So there's two possibilities now.
1) XRP and all Crypto will be driven lower by the upper resistance line. In which case we will find a new low, experience a bounce and then go through a re-test process.
2) The existing trend-line holds, at which case, we need to pay close attention to the distance between the EMA and the SMA lines. When the two trendlines Get close and cross, there's a strong possibility that we could recover to levels previous to this latest downturn or better.
Still in a learning process here, but that's what I'm seeing by studying the lines.
You'll notice that the 40 is still above the value and was above the value during the entire time all crypto made a rebound. What I'm seeing here is echoed through out a lot of reversal patterns. You'll get a bounce up, but will eventually get a reversal back down. The trend-line that held XRP last September through October is the same Trendline that's holding the price above .28 now. So there's two possibilities now.
1) XRP and all Crypto will be driven lower by the upper resistance line. In which case we will find a new low, experience a bounce and then go through a re-test process.
2) The existing trend-line holds, at which case, we need to pay close attention to the distance between the EMA and the SMA lines. When the two trendlines Get close and cross, there's a strong possibility that we could recover to levels previous to this latest downturn or better.
Still in a learning process here, but that's what I'm seeing by studying the lines.
Penafian
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