Technical Analysis : XRP about to moon?

XRP-to-the-moon

Based on one of the famous technical trading analysis Cryptomaniax 101 in TradingView , XRP chart is so beautiful and is about to the moon.

XRP expect can reach up to $127 if based on same pattern: Source Trading view

According to him, the price of XRP can reach up to USD 127 if the same patterned that happened of previous years can happened again in the future.

XRP chart of 2017, almost same pattern with 2019: Source Tradingview

Cryptomaniax 101 have comment as below:

If we look closely at the 2017 vs 2019 fractal we will see similar movement occurring nearly within the same time frame. Although no fractal is a guarantee of a repeat in the future, we are 7 out of 8 movements into a possible accumulation / breakout phase. Next move should theoretically result in an abrupt green candle. According to this specific fractal , we should see this type of movement this quarter, however delays are always prone to happening although unlikely.

Another important thing to keep in mind is that even though a popular argument is to say that this market is naissant compared to stocks or precious metals market and no TA can be built around it to reflect accurately the future move, I would argue that all markets are ‘controlled’ by same ‘group’, therefor even though they seem ‘unpredictable’ they still can be predicted with ease in a way and at least a general trajectory can be drawn.

STRONG BUY SIGNAL

XRP : Moving Average Signal [Source: Tradingview]

Based on the signal which created by Tradingview, the moving average signal is showing “STRONG BUY”. Based on Exponential Moving Averages (EMA) and Simple Moving Averages (SMA), all the EMA and SMA 5, 10, 20, 30, 50 and 100 is showing the signal to BUY.

Overall performance of current XRP which based on most popular indicator ; Moving Averages, Oscillator and Pivots also show signal BUY.

XRP Summary Signal [Source: Tradingview]

Based on the Technical Analysis, the expectation that XRP is about to the moon is have some basis and have high possibility.

Source : Tradingview

Disclaimer: This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

XRP is one of the cryptocurrency which you can buy and sell in Maishince.com platform. Currently it’s having campaign 0% Maker and Taker Fee.

Image Credit : Rob Art

Related posts