XRP Daily Analysis: Fight to $0.40
XRP as proven by Nouvive Intelligence is uncorrelated to Bitcoin; the current drop and search for definitive support to $3582 would make traders flood to XRP. On the 1D Chart, the next resistance/target is $0.40.
What do the charts say?
- The MACD on the 1D Chart has flashed green – illustrating a buy signal. Coupled with RSI Stochastic in the neutral zone and volume on the buy side rising, it appears more than likely we can see $0.40 by end of day today.
- There are several volume gaps in the $0.40 area, with that also being the resistance and mental resistance.
- Accumulation bounced off the support line as illustrated in the chart, that matched with an unsteady Bitcoin and rising XRP market sentiment; $0.40 is on sight.
- XRP fell to $0.371 during the early hours of today; this was to fill the volume gaps at this level but also as this is the 0.786 fibonnaci level – an area of cooling off following a pump as it waits to decide what to do next.
- A fall below $0.366 – unlikely would illustrate that XRP needs to find a definitive support, leading traders to look for $0.347; especially as there are volume gaps there.
Nouvive Says: XRP is uncorrelated to Bitcoin; a steady outlook for BTC to $3582 would see it decrease by 2.7%, whilst XRP seeks to break the resistance at $0.40 especially based on market sentiment and accumulation.
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