Ripple does not stay behind and has shown a nice bullish candle for the second week. And also for this week the candle looks pretty bullih. If it closes like this we have a 3 white soldiers, which is a bullish candle pattern. After that the highs break and then it can go fast. At the moment we are above 0.2797 and hopefully this level will be tested on the lower timeframes as support. The indicators on the weekly chart look good. The lbr and macd have also been able to make a bullish crossover and we see the bullish momentum increasing on the lbr and macd.
After XRP has managed to get back above the - - trend line again, the price has risen with an emergency exit in which the resistance has been broken. Yesterday's daily candle has been closed higher than the highs before (circled in red) . We also see that today the 0.2797 has been rocked back, will this have been it and can we start looking at the next resistance? All signals point to it. For example, the ema's are bullish and they are slowly starting to sprout. The rsi has passed the 70 line and the ema is ascending. The rsi is descending at the moment but not something to worry about. As long as the ema can serve as support for the rsi it remains bullish. nThe lbr indicates the same and also descends slightly at the moment. Also on the lbr we see the bullish momentum increase just like on the macd which moves up in a nice line.
Early this morning there was quite a drop at BTC. Here the previous resistance level was tested which was also a golden pocket retrace on the 4h fibonacci. It's not very clear on this chart if this will be it or if the GP needs to be tetched a bit better. We are going to take a look at this on the 1h chart as well.
The ema's look beautiful here, the rsi has gone through the ema but seems to want to recover its way up, hopefully the lbr will follow for more confirmation. The macd we see is at a point that a bearish crossover may come. On the lbr and macd the bullish momentum has decreased a lot last night.
There was quite a bit of bearish divergence to be seen here, which may have been played out now. The uptrend line (pink) has persisted and so have the ema's. The rsi and lbr have quite a downtrend line under which they both move. These trend lines need to be broken if the bulls continue to push XRP's course.
Conclusion:
At the 1h the high at 0.3055 has to be broken to be able to look further up. If this doesn't happen right away, we can go back to the support level at 0.2797 to stay bullish. The next resistance we can expect is 0.3291 and then 0.3823. At the moment I find it hard to estimate because the last couple of days we have had a lot of grinding resistors, but for now I think we will see the next resistance soon.
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