XRPUpdated Ripple Short-Term Scalp Poss
Ripple XRP is one of my favorite short-term picks because of the price range that it's at currently.
Ripple hasn't hit this price specifically since December 14th, 2017, so we're at our all-time low for 2017.
Last candle on the 1D chart significantly smaller in nature.
The orange line on my chart is the EMA-26 and the Neon-Yellow line = EMA-12.
As you can see the EMA indicators here are above the price right now, so they will serve as resistance indicators.
MACD still shows an upward trend on the 1D as well. Positive
sign.
Bollinger's Bands is showing us that the price is at the bottom of the bottoms, so the greatest extreme for the price at this moment in time.
We've dipped into the oversold zone for the RSI on the daily too.
Let's check out the volume now:
There are two things of note in the chart here.
1. The downtrend resistance from May 4th/5th to the current date is still in effect. However, there is significant distance between the price's current point and that downtrend resistance.
2. With a potential gain of 7%+
The upside definitely looks vastly stronger than the downside at this point on anXRP trade imo.
Market is hanging in limbo at the moment as well. I'm not expecting any more dramatic thrusts of Bitcoin. I would set a solid S/L at 41 cents given the low volatility ofXRP at this present moment. That's a solid risk reward ratio and I think given where the indicators are.
We'll see where things end up!
XRP is one of my favorite short-term picks because of the price range that it's at currently. Ripple hasn't hit this price specifically since December 14th, 2017, so we're at our all-time low for 2017.
Last candle on the 1D chart significantly smaller in nature.
The orange line on my chart is the EMA-26 and the Neon-Yellow line = EMA-12.
As you can see the EMA indicators here are above the price right now, so they will serve as resistance indicators.
MACD still shows an upward trend on the 1D as well. Positive
sign.
Bollinger's Bands is showing us that the price is at the bottom of the bottoms, so the greatest extreme for the price at this moment in time.
We've dipped into the oversold zone for the RSI on the daily too.
Let's check out the volume now:
There are two things of note in the chart here.
1. The downtrend resistance from May 4th/5th to the current date is still in effect. However, there is significant distance between the price's current point and that downtrend resistance.
2. With a potential gain of 7%+
The upside definitely looks vastly stronger than the downside at this point on an
XRP trade imo.Market is hanging in limbo at the moment as well. I'm not expecting any more dramatic thrusts of Bitcoin. I would set a solid S/L at 41 cents given the low volatility of
XRP at this present moment. That's a solid risk reward ratio and I think given where the indicators are. We'll see where things end up!
Note
+17% on the trade. I'm probably not going to specifically monitor this one any further. Take profits accordingly and enjoy everyone! (Not Financial Advice)
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.