Ripple: weekly market analysis (from 9 January to 15 January 2020 on BTC / XRP pair)

In absolute frankness, if you do not have the habit of keeping yourself constantly informed about what is happening in the USA, it is better that you do not approach XRP at all and direct your trading choices towards other currencies.

For more than a year, BTC / XRP have been waiting for a reversal

We start as always from the 30D graph, more than anything else to highlight how the last two explosions of bullish volatility coincided with a break of the pivot point and a subsequent test of the R1; a good signal, no doubt about it, however the MACD is still far from returning bullish and the same goes for the parabolic SAR.

 Bearish scenario also with regard to the weekly time frame, with the only exception of the MACD which seems instead intent on finding new bullish momentum, but it is really just a feeling.

Same identical thing with regards to the 1D chart, here too the clouds of ichimoku show us that we are still in a bearish scenario, the parabolic SAR is equally bearish, while the MACD seems to have found new momentum. To get some more food for thought it is necessary to move on to the 4H chart, here we see that there are excellent chances that the price will return to the 3000 satoshi zone, but on the fact that it can break this price level we have, at this moment, no certainty .

Weekly forecast

Although I am moderately certain that XRP will return to the 3000 satoshi zone, I would advise against opening a position now; I have serious doubts that it is worth it, especially since if the bulls' drive runs out right in the 3000 satoshi zone we would risk, for trying to chase a 10% profit, to end up heavily at a loss if the bears trimmed us a particular paw violent.

Anyone who had already bought on the last minimum (in the 2550 satoshi area) would do well to remain long, focusing on selling only if the price were to fall below 2655 satoshi again; those who were left out before evaluating the possibility of opening a position would do better to wait for a break of 3000 satoshi, in order to reduce the risk of the operation to the minimum.

That said, we just have to set the appointment for next Wednesday, when we will take stock of the ripple price trend again.

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