XRP: To $0.50 – ThanksGiving Weekend
It’s possible based on both XRP’s market sentiment, the thanksgiving discussions over the table and the upcoming fundamental drivers for both XCurrent & XRapid that XRP will shoot up close to 11% over the weekend to $0.50.
What does the 6H Technical Analysis Say?
- XRP is currently highly oversold – a fall to $0.443 at the bottom of the bullish triangle pennant would see the RSI Stochastic cross-over and initiate buy signals.
- The same could be true for the MACD where a fall to $0.443 would initiate buy signals.
- There is a triangle bullish pennant available to see, historically it is known for a breakout.
- A breakout above the pennant would see XRP seek to fill the volume gap at $0.47 before making a run for previous session ranges.
What does the Lower time frames say?
- The RSI Stochastic appears to be falling on the lower time frames this would coincide with the bottom of the triangle pennant at $0.443.
- There are small traces of volume in XRP – unusual for XRP – this could present itself as a bearish or bullish opportunity. Should XRP fall, this would fall to weekly lows at $0.41. Should XRP pump, this would cause it to go past the 200MA all the way to $0.49.
Nouvive sees an investment strategy for $0.439 or 0.443 with a take profit at $0.496.
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