XRPUSD (Ripple) – Week 7 – Mixed feelings
XRP initially started the previous weeks a sideways correction that seemed like one more move down is the most likely outcome. However, we are seeing that yesterday XRP gained around 10% in one day and the bullish momentum of the adoption of cryptocurrencies as part of the mainstream financial system is carrying XRP on an upward trajectory that could reach the top of February 1st.
Nevertheless, we should be careful with the buys here because on smaller timeframes, we have divergence on the RSI and a correction to the blue trendline is highly probable before going up again to reach the top. We should also pay very close attention to the support areas of this asset. We advise extra caution on this one because we have big news coming on February 22nd.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
Nevertheless, we should be careful with the buys here because on smaller timeframes, we have divergence on the RSI and a correction to the blue trendline is highly probable before going up again to reach the top. We should also pay very close attention to the support areas of this asset. We advise extra caution on this one because we have big news coming on February 22nd.
Trade with care.
Best regards,
Financial Flagship
Disclaimer: The analysis provided is purely informative and it should not be used as financial advice. Remember that you need a plan before you start trading; so, take this knowledge and use it as a guidebook that will ultimately help you understand the market and easily predict your next move.
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