DISCLAIMER: I am not a financial advisor. All contents on this blog are solely my own personal views and for Cryptocurrency Trading education/entertainment purposes only. Cryptocurrency Trading is very risky. Losses can exceed deposits. Enter with discretion.
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Good day to all crypto enthusiasts, lovers, fans, traders, whatever you want to call yourself. As long as your in love with cryptocurrencies and the technology plus innovation they brought into our ever-changing world, I salute you loud and clear!
As a both XRP hodler and trader, I always do a lot of intensive personal research for the fundamental side especially the news on Ripple's XRP. Adding that, I also keep an eye on the Bitcoin's price action charts and news as well. I strongly believe that Bitcoin and XRP are very correlated to each other in the trading world.
Of course, to all starting, intermediate and veteran traders across all kinds of trading instruments in the world, reading charts is an edge. It is like saying, if we know how to read charts, we can never lose the trading battle. ;-)
Today, I want to share my technical analysis based on the chart indicators I have chosen and express my thoughts on the upcoming trading week ahead for the XRPUSD's price actions.
We saw a fresh 14-day pump last Sunday, that's October 4, 2020 for the XRPUSD.
You may read my previous article taking about that pump here:
https://read.cash/@rafaelken1989/xrps-14-day-fresh-pump-c202cacf
I was so amazed by it when I woke up and saw the charts! Come on man, when I say 14 days, I meant that the XRP's last green close was on September 19, 2020 closing 0.25111 cents.
If we try to see the chart above, from that period September 19 - October 4, 2020, we can see that everytime XRP hits the 0.25 cent level, it immediately corrected and worst, went to the downside and sideways.
Now let's continue. I want to highlights the key important personalized technical analysis that I am seeing that might affect XRPUSD price action for this week.
Number 1:
XRPUSD chart as of my time of writing is getting a lot sexier since the start of its fresh pump last Sunday. To those who think these are pumps and coming dumps ahead, think again! The 0.24800-0.25000 has now become a support in near term! :-)
Number 2:
I'm not done yet, just take a look on the chart below. A 2 similar bullish patterns I have spotted for the XRPUSD mini bull runs from July and October be like! ;-)
Fasten seatbelts we are going to the upside!
Number 3:
Based on how I read my own chart patterns for the daily XRPUSD trades in the last 20 day average, its price action overall has been consolidating and in sideways. So it's enough for an upside run!
So, to close out my closing thoughts. I am expecting for the BULLISH RUN for the XRPUSD this entire week! But in order for the XRP to do that, it must break every near term resistances one by one. With that saying, XRPUSD price right now is trading at 0.25 cents level, so it will break 0.26 then being corrected for some short-term profits. Of course, drawdowns are normal. Every trading instrument has that! So that's it. It's just like a rinse and repeat procedure. XRPUSD will break new resistances, then being corrected and form crucial supports. The cycle goes on and on and that will become a bull run. I am convinced by it seeing the charts of XRPUSD right now.
I am reminding my readers that this article does not intend to give a financial advice based on my personalized claims for the XRPUSD trade here. Please do read again my disclaimer above! I beg of you. :-(
I wish you all a good day ahead of you and as always, take care and God speed!
Great information dear friend 🥰🥰🥰