Quick XRP TA
Hey guy, wishing well as always.
Just gonna do this quick TA for you guys and I'll do a more detailed one tomorrow since today has been a bit but basically to start off, XRP has thankfully managed to keep above our wedge and prevent itself from falling thanks to those bulls and all our supporters out here.
I wanted to point out that while XRP does correlate a lot with Bitcoin something pretty interesting to note is that Bitcoin's formed this little micro wedge on it's chart and here's the Bitcoin chart on the 15 minute.
https://www.tradingview.com/x/eiHvFY3k/
Now here's the XRP chart on the 15 minute.
https://www.tradingview.com/x/mwqOSorj/
We can see how XRP's 15 minute:
https://www.tradingview.com/x/mwqOSorj/
What you'll mainly wanna check out is that 200 EMA line in black which crosses through each chart's mountains but shows a distinct difference. Bitcoin gets hit and deals with that 200 EMA loss a lot more often than XRP has been getting hit with, not to mention XRP seems to be having a way better time avoiding even touching the 200 EMA once it crosses above and is showing a correlation change in support basically being that it's showing more support than even Bitcoin is getting.
While we do know that Bitcoin is what whales like to trade for the most part when buying and dumping XRP has correlated a lot however lately has been showing more resistance to falls as well as support in comparison to Bitcoin, now I'm not saying that's it and telling you that but I'm letting you guys know that correlations are starting to shift and it could signal a change in the future one way or another, XRP's got more strength and with each and every single day more and more people become aware of it's use case.
I know that soon enough people will come to recognize and understand XRP's use case. Till then, I'm gonna leave the idea here but watch out for that correlation and our EMA's most importantly right now. Thank you guys so much for tuning in, if you'd like to leave a like or follow it'd be much appreciated. Thank you.
~ Rock '
Just gonna do this quick TA for you guys and I'll do a more detailed one tomorrow since today has been a bit but basically to start off, XRP has thankfully managed to keep above our wedge and prevent itself from falling thanks to those bulls and all our supporters out here.
I wanted to point out that while XRP does correlate a lot with Bitcoin something pretty interesting to note is that Bitcoin's formed this little micro wedge on it's chart and here's the Bitcoin chart on the 15 minute.
https://www.tradingview.com/x/eiHvFY3k/
Now here's the XRP chart on the 15 minute.
https://www.tradingview.com/x/mwqOSorj/
We can see how XRP's 15 minute:
https://www.tradingview.com/x/mwqOSorj/
What you'll mainly wanna check out is that 200 EMA line in black which crosses through each chart's mountains but shows a distinct difference. Bitcoin gets hit and deals with that 200 EMA loss a lot more often than XRP has been getting hit with, not to mention XRP seems to be having a way better time avoiding even touching the 200 EMA once it crosses above and is showing a correlation change in support basically being that it's showing more support than even Bitcoin is getting.
While we do know that Bitcoin is what whales like to trade for the most part when buying and dumping XRP has correlated a lot however lately has been showing more resistance to falls as well as support in comparison to Bitcoin, now I'm not saying that's it and telling you that but I'm letting you guys know that correlations are starting to shift and it could signal a change in the future one way or another, XRP's got more strength and with each and every single day more and more people become aware of it's use case.
I know that soon enough people will come to recognize and understand XRP's use case. Till then, I'm gonna leave the idea here but watch out for that correlation and our EMA's most importantly right now. Thank you guys so much for tuning in, if you'd like to leave a like or follow it'd be much appreciated. Thank you.
~ Rock '
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