Pure technical analysis

XRPUSD Technical Analysis

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XRPUSD hourly chart analysis

Bullish spike in the price
Figure 1: H1 XRPUSD chart

Key Points

  • The H1 chart should be used for short term trading position entry and exit
  • Price has retraced from the drop to 0.11
  • Price is has attempted to challenge 0.21+ but there is a clear resistance at 0.22 which should be challenged
  • We have found a support level around 0.19 which gives excellent longer term entries

XRPUSD four hourly analysis

Bull trend attempts recovery
Figure 2:, XRPUSD Four Hourly Chart

Key Points

  • For several weeks the price channel has been supported
  • Now we have broken below and found a support and resistance channel as described on the H1 chart
  • We should look for longer term challenges back to the higher level as the asset increases in value over time

XRPUSD daily analysis

Price rejects the 38.2% fibo level
Figure 3: XRPUSD Daily chart

Key Points

  • On the daily chart we can see use fib retracement
  • The 50% retracement was touched and bounced back down
  • The 23% retracement was supportive
  • We can expect further challenges to the 50% level
  • We will confirm the 60+ level once we see strong candles above the 50% level