XRP: Bullish : Where is it going this week?
XRP proves to be one of the most Bullish Coins in the Top 10 based on Fundamental News Drivers and Technical Analysis. Despite this bulls need to watch out for a decrease in accumulation that might occur with traders selling positions of XRP for better trade options. Nonetheless, Nouvive sees XRP breaking out by Wednesday at the latest.
What does the 1Week Higher time frame illustrate?
- Accumulation has increased week on week
- MACD shows that as volume increases so does the bullish price action of the coin.
- RSI Stochastic illustrates that a dump has been rejected with no negative cross-over in sight - illustrating that $0.52 will once again be tested.
- Bears need to watch out for the 15 and 55 MA cross over that could occur shortly over the next few weeks - this would provide unparalleled momentum.
- Despite this bulls need to watch out for a decrease in accumulation that might occur with traders selling positions of XRP for better trade options.
- There is a volume gap at $0.50 that needs to be filled.
- A bullish volume gap at $0.55
- Bullish buy side volume has increased week on week.
What does the 1D Higher time frame illustrate?
- RSI Stochastic has rejected a dump - meaning we will not see the week go lower than $0.50
- The 200MA and the 15MA appears to be crossing over across the next several days - illustrating we could see a re-test of $0.57.
- Volume over the past several days is heavily in favour of Buy side volume.
- The MACD is illustrating that we could see a decrease in value - that has been found by NOUVIVE INTELLIGENCE as Highly unlikely.
Where does Nouvive see XRP go today?
- Nouvive sees XRP trading between two ranges, it is likely that by Thursday XRP will breakout above $0.52
- It appears to be flirting with the 15MA but unlikely to peak above it as a result of the short-term negative outlook of the rest of the market.
- The RSI Stochastic is signalling a dump, we could perhaps see $0.50 retested once more.
- However - Accumulation appears to be spiking up for XRP on the lower time frames.
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