XRP Price Analysis
This one felt needed (among others), in order to warn of the latent risk of just barreling into an investment here.
Without wasting any time, let’s look at the daily chart (zoomed out) w the Fibonnaci applied to it:
As you can see above, the price broke through that long-term support in the 40 cent range and plummeted down as far as 32 cents (-20% approx.) before bouncing back up to the 33–34 cent range (which it’s been floating around throughout August 8th — 9th)
If the price does do a 100% retracement on this chart, then 20 cents is the next destination, and it’s not that much further down from where the price is currently:
A -40% drop in the price would lead it right to that 100% retracement level.
EMA chart on the 15min time frame looking somewhat bullish.
Above is the EMA-12, EMA-26, and EMA-50 are all under the price currently on the 15min chart for XRP.
Everytime the price crosses above an EMA indicator, that’s a buy signal (that’s law).
EMA-12 = Lime Green line
EMA-26 = Burnt Orange Line
EMA-50 = Golden line
Here is a more zoomed in view
Price is nudging on the EMA-100 on the 15 min chart as well. A break past here could send it on a run toward the EMA-200 (which is obviously on top due to the bearish drop in price previously).
EMA-200 on the 15 min is sitting at roughly $0.362, which is a decent move up from where the price is currently.