Despite several dumps, concentrated on the days of 15 and 18 November, the bulls promptly recovered their losses and yesterday we returned to above 3100 satoshi. I would therefore say that my prediction turned out to be correct and that the worst for this currency seems to have passed, but there is little to be calm about these times when it comes to altcoin, especially due to the fact that the market is too often recently alt betrayed expectations; so let's go immediately to take a look at the charts and try to understand what awaits us over the next seven days.

BTC / XRP returns to the serene and the bulls resume their push

At this moment, observing the 30D chart is not very useful, we will have to wait another week to study the opening of the new candle, so let's focus on the 7D chart; here we see that for three weeks now the price has moved below the pivot point, without ever going to test the S1, which could be interpreted both as a positive signal and as a negative signal. The MACD is still bullish, as well as the parabolic SAR, although we must admit that with the November 18 dump we risked and not even a little; positive the ADX that shows how the bearish trend that has characterized all this 2019 is progressively going to weaken, while the bollinger bands show us how the price has remained constantly above the median line during these last weeks and that they leave us hope to actually find us at the beginning of a reversal phase. Positive also the fractals that show us, as mentioned in our last analysis, that soon we should return around 3800 satoshi quota and, at that point, we will have to verify if XRP will score a new maximum or not; the current one, in any case, looking at the weekly chart, seems to be a good time to buy. As for the 1D chart, instead, the MACD seems to be close to a bullish return and much will depend on the volumes that ripple will be able to attract; if enough liquidity flowed, in fact, we could see a nice leap forward by this currency; more interesting is the analysis of the ichimoku cloud, with the price that is back in the cloud but without breaking it and that has indeed exploited the lower edge to bounce. With the delay line still firmly above the clouds if in the coming days we were to witness an important rebound with the price that proved to be capable of returning above the cloud, we would have a decidedly solid bullish signal; a look also at the book of orders, with the sell wall that appears moderately thin at this time, we have more purchase orders than sales, and even this, although it should be taken with a lot of pliers, is a sign that we can consider encouraging.

Weekly forecast

For those who love risk this could be a good time to buy, also taking advantage of the indications we get from the pivot points; buying now we will be able to place a stop loss under the S1, around 2800 satoshi, which means taking a 10% risk of loss in the face of the possibility that a possible renewed bullish momentum will bring XRP to break through both the pivot point itself and the R1 , reaching to touch 4100 satoshi and to test the R2, something that for several weeks now I repeat to be the most probable scenario. Clearly, having confirmed my bullish orientation even throughout this November, although XRP has shown some weakness to date, I can only reiterate what was written above, so I am still bullish for this currency; hoping not to have caught a blunder, therefore, I refer you to Wednesday of the next week when we will find out together if my prediction has turned out to be correct or not.

Please note: this post is not intended to provide any financial advice regarding how to invest your money, but is for educational purposes only