I have been looking at everyones idea's and overall everyone is pretty bullish. I am not a bear, but my eyes must be cross-eyed because I just don't see 'Bullish'.
I have shown you the Weekly Time Frame, because I think this really gives a good view of where I think XRP is at -
If you are looking at the daily, zoom out to the weekly/monthly, it gives a different picture. All in all I think XRP is overheated. I will be looking at the previous all-time high as a point of support if it loses than I will be looking for prices at around $1.41. And to be fair, this makes sense to me. If XRP is to achieve the massive prices everyone's predicting, it's probably going to go sideways for a bit to catch its breath before its next leg-up.
Lets not forget that XRP giveth and also dumpeth.
Someone please let me know I am not the only one thinking this!
I have shown you the Weekly Time Frame, because I think this really gives a good view of where I think XRP is at -
- The RSI is massively oversold, in-fact its the highest it's ever been since 2018 (can't look back any further on the chart I am using).
- The weekly candle closes in a few days, but it is looking awfully like a swing failure pattern. Which would be very bearish for me.
If you are looking at the daily, zoom out to the weekly/monthly, it gives a different picture. All in all I think XRP is overheated. I will be looking at the previous all-time high as a point of support if it loses than I will be looking for prices at around $1.41. And to be fair, this makes sense to me. If XRP is to achieve the massive prices everyone's predicting, it's probably going to go sideways for a bit to catch its breath before its next leg-up.
Lets not forget that XRP giveth and also dumpeth.
Someone please let me know I am not the only one thinking this!
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.