In my Bitcoin' analysis i showed a big bear flag in the making for XRP', so far it is playing out since we dropped to low again. Well this coin got pumped so much 2 months ago and as all other alt coins, it has given away most of the profit again. It could drop much more, depending on Bitcoin' of course. On the right we can see a resistance level, this shows that IF we make a move up again, but can not break that resistance and make a lower high, chances will be very high for a big drop.
What sticks out with XRP' (and XLM' as well), it was so strong the past month or so, even during the first initial dump of Bitcoin to 5000ish. The price got a lot of support around the 0.45/0.5. But the past few days, with Bitcoin moving up from 3500 to 4400, XRP' (and XLM') did not even move higher. Meaning not like alts as NEO' or LTC'. So from super strong it went to super weak. This is a bad sign, so the outlook for the short/medium term is not good.
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Previous analysis:
What sticks out with XRP' (and XLM' as well), it was so strong the past month or so, even during the first initial dump of Bitcoin to 5000ish. The price got a lot of support around the 0.45/0.5. But the past few days, with Bitcoin moving up from 3500 to 4400, XRP' (and XLM') did not even move higher. Meaning not like alts as NEO' or LTC'. So from super strong it went to super weak. This is a bad sign, so the outlook for the short/medium term is not good.
Please don't forget to like if you appreciate this :)
Previous analysis:
Comment:
XRP is at the resistance now, this will probably be an important point. If it fails to break and moves down again towards yesterday's low, it will probably make a big drop again. If we break it, still no guarantee it moves up, but makes it 50/50 again.
Comment:
New XRP analysis:
