Ripple: weekly market analysis (from 26 December to 1 January 2020 on a BTC / XRP pair)

Over the past seven days, the controversies about sales have re-exploded, aimed at self-financing, by ripples, controversies that will only fade when XRP should return close to its historical maximum; the point, now, is to be able to understand how much the bulls' push will continue, so let's immediately take a look at the graphs and try to define together what to expect from XRP in this early 2020.

BTC / XRP shy bulls and low volumes, the situation is complicated

First, let's look at the opening of the new monthly candle which, as we expected, has opened under the pivot point; the increases that we have seen after Christmas are therefore the attempt of the bulls to return above this level.

These are fairly typical movements which, more often than not, end with the price rejected violently and with a test of the S1 which, in our case, is located in the 2400 satoshi area. XRP prices are currently close to the minimum reached in November 2017, the risk we run is that if the current support breaks, the price will crash crashing to around 1000 satoshi and this currency will therefore lose more than half of its current value.

Moving on to the 7D chart, there is a bit of optimism, in the meantime because we immediately notice that, at least so far, a new minimum has not been scored; in any case, the next few days will be crucial to understand how the situation will evolve, however the feeling is that the worst has passed and that soon XRP will have to reverse.

On the other hand, the 1D time frame with the MACD that has returned to the upside and the parabolic SAR that will do the same if the bulls' push manages to break through 2713 satoshi (as I write the prices are still at 2699 satoshi).

The 4H time frame is also very good, from which we not only observe the breaking of the resistance of the bullish channel that had come to form just before Christmas but, above all, we see that the price has returned above the ichimoku clouds.

Weekly forecast

Let's start by saying that going to operate on XRP is very dangerous and that it would be advisable, with a view to reducing risk, to wait at least for the 3100 satoshi quota to break before evaluating the opening of a long position; as far as I am concerned, however, I am still basically bullish on XRP and indeed I believe that over the next three months this currency could see big rises, perhaps even returning to the share of 10 thousand satoshi.

However, I repeat, you always start from the assumption that XRP is one of the most dangerous currencies on which to operate so whatever decisions you make try to be cautious.

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