Ripple broke the 50 cent

Ripple broke the 50 cent


After the pump, the price opted for a logical recovery. The golden pocket has been touched and after that the price is continuing its way up, as usual. With today a very strong opening candle which, if it would close, would cause a candle pattern called 3 white soldiers. This is a bullish pattern.

Daily chart: https://www.tradingview.com/x/aqe6MGT8/


On the four hours chart we see a possible channel forming but as yet this has not been confirmed. There is also a clear breakout of a resistance level at 0.50 dollar cents. A back test and flip to support would be the ideal scenario.

The ema's are gradually rising and the distance remains almost the same. After the rsi tested the ema it went up quite hard and is currently above the 70 level.

4h chart: https://www.tradingview.com/x/7Kn3721R/

This low timeframe also looks bullish. We do see the ema's slowly moving wider from each other here, the strength of the trend is increasing. Looking at the rsi here too has been a good bounch from the ema and again the rsi is above the 70 level. Yes that is the overbought area but doesn't mean that when the rsi is there that the price has to go down. I am raising this again because I see online that many individuals think this.

1h chart: https://www.tradingview.com/x/c4QruH4m/


Conclusion:
I can see Ripple continuing to rise based on technical analysis. I don't know about the lawsuits ed. But on TA I think we are going to encounter resistance around 58 cents and as I mentioned earlier the perfect scenario would be that the 50 cents back tested so flipped to support. A support level lower is at 38 cents and resistance after the 57 cents we will encounter around 75 to 80 cents.

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MrCoingrats
MrCoingrats

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Technical analysis by Mr. Coingrats
Technical analysis by Mr. Coingrats

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