XRPPembelian
XRP in positive consolidation
XRP is consolidating as it tests key support levels. I created a bullish wedge at the beginning of December, and XRP broke above and below the wedge. On December 18, XRP broke below the upward trendline, signaling a price correction or a consolidation period that might drag out longer than expected. The On Balance Volume (OBV) shows that XRP faces high buying pressure, signaling positive sentiment to push XRP to resistance levels. The Chaikin Money Flow (CMF) shows that XRP spiked in buying pressure today at 0.43 (OBV) above the zero line, locking in positions that will keep XRP in the fight to consolidate around a price average of 2.42.I posted a Fib Retracement to indicate a buying zone if XRP breaks below support levels.
Fundamental analysis - In this idea, I'm looking at a more volume-based analysis for XRP because its exposure has been rocketing lately, bringing in new partnerships, institutions, and retail. The market has been bearish lately with its recent nose dive, but XRP looks to be handling it well.
Resistance - $2.90
Support - $1.70
Chart - 12hr
What will I be doing? Dollar-cost average.
Fear and Greed Index (CoinMarketCap) - Neutral 59
Fundamental analysis - In this idea, I'm looking at a more volume-based analysis for XRP because its exposure has been rocketing lately, bringing in new partnerships, institutions, and retail. The market has been bearish lately with its recent nose dive, but XRP looks to be handling it well.
Resistance - $2.90
Support - $1.70
Chart - 12hr
What will I be doing? Dollar-cost average.
Fear and Greed Index (CoinMarketCap) - Neutral 59
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