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Technical analysis (1H):
β’ Ripple dropped more than 30%. A lot of buy orders, spiking price during past few days.
β’ Line labeled with the red star, may act as resistance, as it has prior.
β’ Newest candles, though green, decreasing in size. Possible sign of resistance.
β’ RSI portraying XRP as oversold. Sign of potential ceiling.
β’ Not sure what's going on with MACD. It isn't in accordance with my prediction. It isn't too accurate with crypto anyways; I just left it there for an extra tool, potentially.
Fundamental analysis:
β’ News released 2 hours ago, stating that Ripple has been added to BitOasis, a UAE crypto exchange. Could be big news, and could cause some long trades, breaking through the line labeled with the red star, acting as support.
β’ A boat load of anti-Ripple crypto investors out there. Most don't like Ripple's centralized vision for cryptocurrency. Could be a possible reason for the potential ceiling. Lot of sellers.
Technical analysis (30M):
β’ As I was typing this, the last green candle turned red on the 1H. I switched to the 30M, and saw this.
β’ RSI showing oversold.
β’ Another red candle forming, after this one, as we speak.
β’ Very likely to be a ceiling.
Actions to take:
β’ Wait for confirmation candle: a red candle closing below the low of the previous two green candles. If so, sell.
β’ For conservative investors: wait until a red candle closes below the close of the previous 3 greens. If so, sell.
β’ Watch out for news. Ripple is pretty newsworthy and so it may be swayed.
β Nio Pomilia
All of my market reports, and predictions, are based on prior knowledge ofβand sufficient experience withβtechnical and fundamental analysis, critical thinking, and logic.