On the trending 1 day chart, the recent btc events sent xrp crashing through the simple moving average into the bottom channel of the bollinger / keltner.
Upon evaluating the rebound, xrp has made some significant gains (like the rest of the alt market). That being said, the 1 hour signal chart has price dangling well above cloud.
Due to the current downtrend in xrp, I believe this is a good combination to conclude this as - not the bottom - and I will be waiting to enter xrp for a short term long position.
Waiting to see interaction within the bottom channel. Will look for a strong buy signal in the 1 hour chart.
Upon evaluating the rebound, xrp has made some significant gains (like the rest of the alt market). That being said, the 1 hour signal chart has price dangling well above cloud.
Due to the current downtrend in xrp, I believe this is a good combination to conclude this as - not the bottom - and I will be waiting to enter xrp for a short term long position.
Waiting to see interaction within the bottom channel. Will look for a strong buy signal in the 1 hour chart.