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Ripple (XRP) Finds Bottom At $0.25, Price Surges On News Of ‘Partnerships’

Ripple (XRP) Finds Bottom At $0.25, Price Surges On News Of ‘Partnerships’
Ripple Chart With Values Ripple (XRP) is one of the few cryptocurrencies to have completed a correction of more than 90% since its all time high. The price has settled just above the $0.25 mark which seems to be a bottom as indicated by the Vix diagram on the above weekly chart for XRP/USD. Wave trend analysis for the chart above shows that the price has likely bottomed out and is now preparing for a bullish breakout in the weeks ahead. Previously, Ripple (XRP) had surged on what has been speculation for the most part as announcements and news of ‘big partnerships’ every second day pushed the price higher and higher until it rose above $3.2, at which point many began to question what justified XRP’s valuation at such a price. This led to some serious examination of XRP as an investment and a lot of things came to light in the months following the beginning of the correction. Concerns about Ripple’s large share of XRP tokens and centralization had already been looming before but it did not stop the price from breaking past $3. This time around though, those concerns are a lot more serious as other important issues have come to light. Ripple (XRP) previously claimed that it had partnered up with financial giants like Western Union and Moneygram but as Western Union’s CEO revealed this year that XRP had made no difference to their business, it came as a shock to many. After some digging, it became clear that these ‘partners’ were using XRP only for minute amounts and that too for experimentation. Even during those experiments, Western Union, according to their CEO, found that XRP made no difference to cutting their expenses. In fact, using XRP was an added expense. Recently, Ripple (XRP) announced that they have partnered up with some exchanges including Bittrex and Bitso for the use of their XRP tokens. While some may see this as one of Ripple’s new partnerships that are going to boost the price of XRP, I see it as a move of desperation. If Ripple (XRP) had any success with partners like Santander, Moneygram and Western Union, they would not have to do this. Furthermore, saying that these exchanges will use XRP is not enough. It has to be clear how these exchanges are going to use XRP, what they are going to use it for and what amount of XRP are they going to use. Ripple Chart With Values Ripple is a great company but its success does not necessarily mean the success of XRP. The weekly chart above for XRP/BTC shows that XRP has a lot of room for growth. It is possible that the coin might make new highs in the years ahead considering XRP investors are heavily bought on the idea of XRP eventually becoming the only medium of exchange, replacing Bitcoin (BTC), even in market cap. There are three categories of investors in the crypto space: the pessimists, the realists and the optimists. The pessimists think cryptocurrencies are a scam and that they will eventually lose their appeal and fade away. Yet, they invest in these coins temporarily or short them most of the time, but they do not believe in holding long term. There are realists who believe that coins like Bitcoin (BTC) are poised for mass adoption and that eventually most cryptocurrrency projects will fade away but the ones with actual use cases will remain. Then there are optimists who believe that the time will come for coins like Ripple (XRP) to have a solid use case and to capture a significant chunk of the global forex market, thus raising the price of XRP.

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BTC/USD Back Above 19000 with 19500 the Next Hurdle: Sally Ho's Technical Analysis 30 November 2020 BTC

BTC/USD Back Above 19000 with 19500 the Next Hurdle:  Sally Ho's Technical Analysis 30 November 2020 BTC

Bitcoin (BTC/USD) extended recent gains early in today’s North American session as the pair appreciated to the 19350.01 area trading as low as the 18079.46 area in the Asian session, just below the 50-bar 4-hourly simple moving average.  Chartists observe that the 50-hour simple moving average has bullishly crossed above the 100-hour simple moving average, reflecting an appreciating market.  Traders are eager to see if BTC/USD will establish a new all-time high above the 19891.99 area in short order.  Traders are eyeing the 20311.36, 20534.46, and 21909.24 areas as upside price objectives if a new all-time high is established.  The pair stopped short of testing the 15808.49 area during the recent move lower, representing the 23.6% retracement of the wide appreciating range and absolute 2020 range from 3858 to 19500.  Significant Stops were elected during the decline including below the 18605.14, 18275.16, 18016.74, 17604.12, 17517.42, 17156.69, 17099.13, 16905.00, 16603.10, 16357.50, and 16292.58 levels

Traders will pay close attention to some potential areas of technical support during pullbacks lower and these include the 16092.69 and 15935.90 areas.  Notably, the 15935.90 and 16304.69 areas represent the 76.4% and 78.6% retracements of a historical depreciation from 19891.99 to 3128.89.  Further below current market activity, traders are paying close attention to additional potential areas of technical support during pullbacks and these include the 14273.50, 14259.01, 14101.50, 13989.55, 13892.29, 13705.50, 13663.43, and 13594.42 levels. Chartists are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).   Also, the 50-bar MA (hourly) is bearishly indicating below the 200-bar MA (hourly) and above the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 18194.53 and the 200-bar MA (Hourly) at 18214.01.

Technical Support is expected around 16200/ 15996.17/ 15479.66 with Stops expected below.

Technical Resistance is expected around 19500/ 20311.36/ 21909.24 with Stops expected above.  

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

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ETH/USD Back Above 600 After Orbiting 551.65: Sally Ho's Technical Analysis 30 November 2020 ETH

ETH/USD Back Above 600 After Orbiting 551.65:  Sally Ho's Technical Analysis 30 November 2020 ETH

Ethereum (ETH/USD) extended recent gains early in today’s North American session as the pair appreciated to the 605.00 area after trading as low as the 557.21 area in the Asian session.  Stops were elected above the 568.54, 589.44, and 596.11 areas during the appreciation, upside retracement levels related to the recent depreciating range from 623.22 to 480.08.  Prior to the depreciation, ETH/USD had been hovering around the 551.65 area, representing the 50% retracement of the depreciating range.  Traders are waiting to see if ETH/USD will appreciate to establish another multi-year high.  Traders are also paying close attention to technical resistance around the 627.83, 638.28, and 652.36 areas.  The pair’s recent pullback was a test of the 479.03 area, representing the 78.6% retracement of the appreciating range from 439.77 to 623.22.  One level that traders are carefully monitoring is the 503.57 area, a level that represents the 38.2% retracement of the recent appreciating range from 310.00 to 623.22, and price activity was recently buoyed above this area.  Stops were recently elected below a series of retracement levels including 579.73, 563.58, 553.14, 531.50, 526.88, 509.85, 496.86, and 483.06. Larger Stops were elected below the 550.01 and 504.72 areas, retracement levels related to the wider appreciating range from 313.00 to 623.22.  On the upside, Stops were recently elected above the 615.19 area during the climb higher, an upside price objective related to buying activity that originated around the 142.10 level earlier this year.  The pair’s next upside price objectives include the 637.79, 668.87, 679.78, and 698.88 levels.   

Stops were also recently elected above the 583.59 and 592.24 areas during the ascent, retracement levels related to selling pressure that commenced around the 894.50 and 1419.96 levelsStops were also recently elected above the 519.16, 521.13, 524.97, and 540.64 areas during the ascent higher, preceded by Stops triggered above the 503.54, 508.69, and 510.22 levels.  During pullbacks lower, traders are paying close attention to the pair’s trading activity around the 461.31 area, an upside price objective related to buying pressure that emerged months ago around the 125.52 area.   Some additional downside retracement levels include 432.71, 431.36, 427.78, 424.14, 422.81, 419.74, 415.20, 411.91, and 408.12. Additional areas of potential downside support include the 400.56, 395.87, 387.62, 380.03, 377.17, 367.24, 366.72, 354.44, and 353.78 areas.  Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).  Also, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and below the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 561.55 and the 200-bar MA (Hourly) at 561.17.

Technical Support is expected around 417.60/ 388.49/ 366.72 with Stops expected below.

Technical Resistance is expected around 627.83/ 637.79/ 668.87 with Stops expected above.

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

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BTC/USD Trapped By Moving Averages: Sally Ho's Technical Analysis 29 November 2020 BTC

BTC/USD Trapped By Moving Averages:  Sally Ho's Technical Analysis 29 November 2020 BTC

Bitcoin (BTC/USD) traded sideways early in today’s North American session as the pair appreciated to the 18248.21 area trading as low as the 17535.26 area in the Asian session, with the intraday low representing a test of the 38.2% retracement of the recent depreciating range from 19500 to 16200.  Traders observe that BTC/USD’s upside was capped by the 200-hour simple moving average during the European session, and supported around the 23.6% retracement of the depreciating range from 18980 to 17610.77 early in the North American session.  Also, the 50-bar 4-hourly simple moving average provided technical resistance during the North American session, and the intraday high also represented a test of an upside price objective around the 18256.14 area.  The pair stopped short of testing the 15808.49 area during the recent move lower, representing the 23.6% retracement of the wide appreciating range and absolute 2020 range from 3858 to 19500.  Significant Stops were elected during the decline including below the 18605.14, 18275.16, 18016.74, 17604.12, 17517.42, 17156.69, 17099.13, 16905.00, 16603.10, 16357.50, and 16292.58 levels.  If the pair is able to resume its upward trajectory and establish a new all-time high, traders are carefully monitoring the 20311.36 and 21909.24 areas as upside price objectives.  Similarly, the 20534.46 area is an upside price objective related to buying demand that originated earlier this year around the 6854.67 area. 

Traders will pay close attention to some potential areas of technical support during pullbacks lower and these include the 16092.69 and 15935.90 areas.  Notably, the 15935.90 and 16304.69 areas represent the 76.4% and 78.6% retracements of a historical depreciation from 19891.99 to 3128.89.  Further below current market activity, traders are paying close attention to additional potential areas of technical support during pullbacks and these include the 14273.50, 14259.01, 14101.50, 13989.55, 13892.29, 13705.50, 13663.43, and 13594.42 levels. Chartists are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).   Also, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and below the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 18204.22 and the 200-bar MA (Hourly) at 18235.20.

Technical Support is expected around 16200/ 15996.17/ 15479.66 with Stops expected below.

Technical Resistance is expected around 19500/ 20311.36/ 21909.24 with Stops expected above.  

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.

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ETH/USD Orbiting 551.65 Retracement Level: Sally Ho's Technical Analysis 29 November 2020 ETH

ETH/USD Orbiting 551.65 Retracement Level:  Sally Ho's Technical Analysis 29 November 2020 ETH

Ethereum (ETH/USD) traded sideways early in today’s North American session as the pair appreciated to the 558.68 area after trading as low as the 531.00 area in the Asian session, a test of the 50% retracement of the appreciating range from 439.77 to 623.22.  Traders are observing that ETH/USD is tightly oscillating around the 551.65 area, representing the 50% retracement of the depreciating range from 623.22 to 480.08.  The next upside retracement levels in this range include the 568.54, 589.44, and 592.59 levels.   The recent pullback was a test of the 479.03 area, representing the 78.6% retracement of the appreciating range from 439.77 to 623.22.  One level that traders are carefully monitoring is the 503.57 area, a level that represents the 38.2% retracement of the recent appreciating range from 310.00 to 623.22, and price activity was recently buoyed above this area.  Stops were recently elected below a series of retracement levels including 579.73, 563.58, 553.14, 531.50, 526.88, 509.85, 496.86, and 483.06. Larger Stops were elected below the 550.01 and 504.72 areas, retracement levels related to the wider appreciating range from 313.00 to 623.22.  On the upside, Stops were recently elected above the 615.19 area during the climb higher, an upside price objective related to buying activity that originated around the 142.10 level earlier this year.  The pair’s next upside price objectives include the 637.79, 668.87, 679.78, and 698.88 levels.   Traders are also paying close attention to technical resistance around the 627.83, 638.28, and 652.36 areas. 

Stops were also recently elected above the 583.59 and 592.24 areas during the ascent, retracement levels related to selling pressure that commenced around the 894.50 and 1419.96 levelsStops were also recently elected above the 519.16, 521.13, 524.97, and 540.64 areas during the ascent higher, preceded by Stops triggered above the 503.54, 508.69, and 510.22 levels.  During pullbacks lower, traders are paying close attention to the pair’s trading activity around the 461.31 area, an upside price objective related to buying pressure that emerged months ago around the 125.52 area.   Some additional downside retracement levels include 432.71, 431.36, 427.78, 424.14, 422.81, 419.74, 415.20, 411.91, and 408.12. Additional areas of potential downside support include the 400.56, 395.87, 387.62, 380.03, 377.17, 367.24, 366.72, 354.44, and 353.78 areas.  Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly).  Also, the 50-bar MA (hourly) is bearishly indicating below the 100-bar MA (hourly) and below the 200-bar MA (hourly).

Price activity is nearest the 50-bar MA (4-hourly) at 554.10 and the 200-bar MA (Hourly) at 553.94.

Technical Support is expected around 417.60/ 388.49/ 366.72 with Stops expected below.

Technical Resistance is expected around 627.83/ 637.79/ 668.87 with Stops expected above.

On 4-Hourly chart, SlowK is Bullishly above SlowD while MACD is Bullishly above MACDAverage.

On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.

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