And the dullness is over on Ripple. Finally I hear many now thinking. What can we expect after such an incredible rise. In less than two weeks XRP is up a whopping 250% and Ripple is trading just 10 cents below the extended Fibonacci 1,618.
Momentum is picking up nicely on the ema's and we also see the rsi in the bullish range. The rsi is also well on its way to setting a new ATH there as well.
daily chart: https://www.tradingview.com/x/s6g4uxnC/
Yes here we can only be bullish about this. There has been no normal moment of retrace at this timeframe to grab a nice entry. In fact, the trendline is only now confirmed. Any retrace to the trendline could be an entry point. Ema's are up like a rocket here and the rsi is also up. We really need to start looking at the lower timeframes because this is mega bullish.
4h chart: https://www.tradingview.com/x/Rm1n1M80/
On the 1 hour chart a bearish divergence has formed but whether it will be respected remains to be seen. We see that the price has quite a distance to the ESMA's so a retrace would not be out of place at all towards the daily open (DO).
1h chart: https://www.tradingview.com/x/lJSDMb4r/
Conclusion:
It all looks mega bullish, I don't really see any reason to go down. Local support that I am looking at right now is around $1.50. That is in fact the previous high before the trend line was tested. Resistance would logically have to be the extended Fibonacci 1.618 at two dollars but we may just shoot past that as well.
Week BTC pairing: https://www.tradingview.com/x/2OrPtdKG/
The weekly chart of XRP/BTC also looks very nice. Especially if there is a retrace around the yellow line, I will definitely look for a long term position. At the beginning of this run, it is easy to rake in a few more percent.