XRP - Hidden Gem??
Relatively speaking XRP has been shat on during this bull run with really no significant gains to get excited about.
What I am seeing
* XRP has been in a down sloping accumulation range since Oct 18
* Broken the down trend but had a capitulation event with very negative news a few weeks back
* We have regained our position in a strong zone to the upside.
* Note how we are sitting on top of a key supply zone which occurred on the 23rd Dec - nthe significant diff in volume between the two which means a lack of supply but demand also.
* This lack of supply means we can have demand take over and push prices higher - this is becoming evident with the inability of price to move lower.
* Watching for a break above 0.50 for a long.
* Break below 0.40 will most likely see us to around 0.30
Wait and see.
What I am seeing
* XRP has been in a down sloping accumulation range since Oct 18
* Broken the down trend but had a capitulation event with very negative news a few weeks back
* We have regained our position in a strong zone to the upside.
* Note how we are sitting on top of a key supply zone which occurred on the 23rd Dec - nthe significant diff in volume between the two which means a lack of supply but demand also.
* This lack of supply means we can have demand take over and push prices higher - this is becoming evident with the inability of price to move lower.
* Watching for a break above 0.50 for a long.
* Break below 0.40 will most likely see us to around 0.30
Wait and see.
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