MagicPoopCannon

Ripple Walks The 50 EMA Tightrope! (XRP)

BITFINEX:XRPUSD   Ripple幣 / 美元
Hi friends! Congratulations, to my Twitter followers who voted Ripple! Let's jump right in. Looking at the four hour chart, we can see that XRP is trapped between the rising blue trendline , and the 50 EMA (in orange.) If you look closely at the 50 EMA , you can see that support was found on it, near the beginning of the right shoulder. This is an important thing to note, because the 50 EMA hasn't been supportive since we were near the all-time high. Also, we haven't broken above it since then either. So, based on the performance around the 50 EMA alone, we can see that the market is behaving differently. We have a very large bullish divergence on the MACD , that has been developing since mid January. We have a sloppy, but possible, inverse head and shoulders pattern developing, like several other assets in the space. We've had a break above the 50 EMA , and it has proven to be supportive, which hasn't happened during this entire bear market downturn. Also, if you look at the highs made on the neckline of the inverse head and shoulders pattern, you can see that we've made a higher high, for the first time since the all-time high. Clearly, the tides are turning from completely bearish to more neutral, as the bulls strive to put a bottom in this market. Ultimately, we need to watch what happens now, as price continues to drift between the 50 EMA and the rising blue trendline . If you look at the MACD , you can see that it has printed a weak bearish crossover, as it begins to curve slightly to the downside. A break below the 50 EMA could send prices tumbling to the 78.6& retrace. A break above the blue trendline , is likely to send prices up to the 200 EMA (in purple.) If the 50 EMA continues to be supportive, traders are going to notice. Either way, there is an apparent shift taking place, that feels             like bottoming action. We may head lower, but the technicals imply that it won't be for long.

This has been your not-so-humble market wizard, droppin' knowledge like bombs in this place! Please follow, comment, like, and share on social media. Good luck trading everyone!

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-MPC loves you-

-JD-
Hi, some update please. have a good day. Tks
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I guess we get poop for valentine !!!
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abelgalaz Crypto_Knight_
@Crypto_Knight_, a big pile of it lol
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Hello, yesterday it bounced for the second time at 1.16 and for now it can not break 1.13. Is this a sign of weakness that can lead to testing lower supports again? Tks for sharing.
+5 回覆
abelgalaz gusccbb
@gusccbb, we cant break the 200ema line now we bouncing between that and his support
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its at the 200ma resistance now! question poopy- Im pretty new to analysis, and am learning alot just looking at your charts. Im guessing with experience i will know which coins to look at on which timeframes? Also, are there more likely patterns to look for depending on the time frame? example- are h+s patterns found more often on 1-4 hour charts? Elliott waves on 15m-1h... and so on?
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So many announcements by Ripple labs, no volume...nothing happens, investors got burned and went away... Apparently the tokens are not needed for anything, their success is related to the network . I'm afraid this coin will slowly be kicked out of the top5, when this bull run finishes ripple token will go down to the deep.
+6 回覆
@DanielLt, Tokens are like shares in company and Ripple would never let them fall hard cuz the CEO has a HUGE amount of them.. THINK! Today we saw Litecoin jumping, BTC going mad, Zclassic these days, ETC, LISK, NEO, Monero, Vechain and so on.. Alot of superb news this month from alot of coins, wait for them get into Ripple. Today on Bittrex was a 100 BTC sell wall on Ripple, I knew that something is going on and then i found the news alot that saudi bank. 10 min after that sell wall got droped of eaten, idk.. But wait a bit, Ripple is going huge after this news.
+4 回覆
tartankiwi NeroNovaBam96
@NeroNovaBam96, Ripple is going to explode this year. Like seriously go ballistic. But people are to much concerned with instant gratification and reward.
+3 回覆
DanielLt tartankiwi
@tartankiwi, I wish you're right... but what we're seeying right now is Ripple following the general mood (and slightly underperfoming)... Don't get me wrong, I have a lot of ripples, but believing that it will fly to the 3/4usd values just because it was there before is not rational, it's emotional.... due to its "dark sheep" centralized nature.

After the epic fall a lot has changed, you can't deny it, you can feel that something is very shady about this coin...the massive dumps while the market sentiment is so positive raises a lot of questions.

Let's wait and see, my rational tells me to get the fuc* out but my emotional side also believes that this is one of the best coins in terms of potential.

One thing I can tell you... if btc falls 10% now... ripple will fall 30/40%, you don't need a TA for that.


So far holding ripple was a really bad choice, on the mid term time will tell. Good luck.

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