Last week little changed from last week's analysis. The 50 cents have not yet been broken and tested, although this has been attempted. On the 4 hour chart we see that the lower high has now been broken again but we do not yet have confirmation in the sense of a higher low. The rsi did make a sprint to the 70 level but then dropped to the 50 level and is currently testing it after going through the ema. Very little more to report compared to last week so we will analyze the XRP/BTC chart this week as well. Ripple is still in a sideways move on the USDT chart where the 50 cent is resistance and the 37 cent is support.
4h chart (USDT): https://www.tradingview.com/x/9Gr0uGc5/
On the BTC pairing, things are already looking pretty lousy. On January 3 a new ATL was set at 619 sats after which the resistance zone at 883 was broken. There has been trading above this level for a while but at the moment XRP is trading below it again. Shortly ago an attempt was made to get above this zone again, which by the way did not succeed. If we take the fibonacci and measure the down move then attempting to break out bullish has been nothing more than a golden pocket retrace to go further down.
The ema's are bearish but flattening slightly. The rsi has also made a best spike to the 7-0 level here and is now testing the ema above the 50 level.
4h chart BTC: https://www.tradingview.com/x/Y8xPnLOM/
Upward compression can be spotted here. The price makes a higher low each time but has not yet managed to set a higher high. The ema55 has crossed the ema100 bullish and seems to want to cross the ema200 as well in the near future. The rsi is moving nicely sideways around the 50 level from which it is currently bouncing off to cross the ema bullish.
1h chart: https://www.tradingview.com/x/EUA7SSi2/
Conclusion:
On the USDT we are still stuck in the 37 - 50 cent range so to speak and little has changed with last week. On the BTC pairing we see a similar pattern. Here XRP is in a zone with resistance at 883 and support from the orderblock at 730 - 755. When the orderblock is broken on the downside there is a big chance that we will see a new ATL. And as long as the 883 sats are not properly flipped to support, the chance of a decline remains plausible. All in all not such a best charts for Ripple.
