Ripple has had an extraordinary run recently!
But what must goes up must come down, on earth, in stocks and in cryptos.
Lets have a look at the charts
1D
Ripple has a new trend line which it created once it left the 30c range.
It is currently respecting and testing that trend line quite well
It's also tested the 0.382 Fib retracement line which is good and common i find.
The RSI has been in oversold territory for a while now so it's good to see it come back down from it.
4hr
The 4hr charts show there has been strong buying power at its previous low back in Dec 21. Buying volume was strong to prop it back up off that low.
Also note it is respecting that trend line quite well.
The RSI is oversold at the moment.
1hr
At the 1hr level, the RSI is oversold again like its previous dip a couple of days ago but its lowest point is higher than the previous time showing a bit of divergence from the price.
If you bought in the last dip, the signs were there to get in, as the RSI was oversold and it was around the 0.382 Fib retracement level but sometimes the signals aren't always right.
Let's see if Ripple respects the trend line.
Good luck and Hodl Strong
UPDATE:
I just checked the XRP / BTC charts which is something that also needs to be checked.
1D
This recent run of XRP /BTC has come to near the ATH of the previous run.
It looks to respecting some of the previous Fib Retracement levels of the previous run.
4hr
Looking at the 4hr charts, XRP against BTC hasn't come down enough to test the trend line.
What this could mean is XRP/USD goes sideways while bitcoin keeps going high, which brings down the XRP satoshis, or Bitcoin goes sideways and XRP/USD breaks down and drops below the USD trendline. or a mixture but i think XRP/BTC has a little bit more to go.
The 50% Fib retracement coincides with the trend line quite nicely so we will see if it touches that over the next few days.
