Ripple: weekly market analysis (from 19 December to 25 December 2019 on BTC / XRP pair)

What has just passed was not a particularly busy week for XRP, on the other hand a pattern has formed that could mark the beginning of a new bullish push, always assuming that the bears cannot push the price even lower. The feeling is that the next few days, between now and the end of the year, will be quite crucial for ripple and will be useful to understand if we are really in the imminence of a reversal that will bring this currency back to historic highs or if, conversely, we will have a phase of total capitulation that will bring us back to 1200 satoshi as many other observers have reported for months.

BTC / XRP waiting for an inversion signal

For the opening of the new monthly candle we will have to wait for tomorrow, so the 30D graph does not offer us any particular food for thought except that, with the last dump of a few days ago, ripple went directly to test the R3; the next few hours are particularly important, therefore, because if the price rebounded, returning to the pivot point, this would be an encouraging sign, however there is little to hope for. Always looking at the 30D chart we realize how long the current bearish cycle has been, however the MACD for at least three months seems to suggest that the worst has passed, we should add that the order book has returned to hanging on the side of the buyers and the belief that this currency must necessarily reverse gets stronger. Moving on to the 7D graph, we realize that we are very close, even too close, at the minimum of 2366 satoshi already tested twice in August, consequently if XRP will not be able to reverse the course and will return to test this level with difficulty it may be able to withstand the downward pressure a third time. In all this is the 1D graph that leaves us more optimistic than any other time frame, here, in fact, over the last week has come to form a pattern that seems to suggest that XRP may return to the 3000 satoshi zone from here to end of the year and, at that point, if the price manages to break that resistance there is a good chance that 2020 for ripple will open with a bull run.

Weekly forecast

I already know I will regret it, but right now I'm bullish on ripple again; I believe that the return to the 3000 satoshi zone is currently the most probable scenario for this currency. While acknowledging the validity of the analyzes of those who for months have indicated that the fund for XRP is around 1200 satoshi, therefore, I believe that as things have gone in the last few months things will go differently than this; said this ripple remains a very dangerous asset to operate on, which only the most experienced traders capable of good resistance to the psychological pressure that follows the accumulation of important losses should look at. Those who have a greater risk appetite, in any case, I imagine are already considering opening a long position on XRP, those who want to have a more risk-oriented operation would do well to wait for a break in the share of 3000 satoshi which, as mentioned, would represent a decidedly bullish signal.

Please note: this post is not intended to provide in any way financial advice relating to how to invest your money but it is purely educational