Hey everyone, I wanted to share some insights on the current state of XRP/USD and the potential for a retracement before we see another upward movement. Here's a comprehensive overview: Current Technical Analysis (H1) Price: $2.3989 (as of Jan 2, 2025) Moving Averages: All short and long-term moving averages are indicating a strong buy signal. Indicators: RSI (14): 81.119 (Overbought) STOCH (9,6): 65.3 (Buy) MACD (12,26): 0.072 (Buy) ADX (14): 62.561 (Strong trend) Williams %R: -12.568 (Overbought) CCI (14): 136.6313 (Buy) Ultimate Oscillator: 66.304 (Buy) ROC: 12.766 (Buy) Bull/Bear Power (13): 0.1873 (Buy) Latest News Ripple Labs' New Partnership: A major financial institution has partnered with Ripple Labs to expand the use of XRP in cross-border transactions. Regulatory Developments: Positive regulatory news in several countries is boosting the adoption of XRP. Market Sentiment: The overall bullish sentiment towards cryptocurrencies, with increased institutional interest and investment, is supporting the price rise. Price Predictions 2025 Predictions: Analysts' predictions for 2025 range from conservative estimates of $1.12 to more bullish forecasts of $10 to $20. Short-Term Resistance Levels: XRP is expected to face resistance around $2.66. A break above this could see prices rally towards $3, while a fall below $2.21 might lead to a retest of support around $1.96. Market Impact Factors: The ongoing SEC legal battle is a significant factor. A positive outcome could result in a substantial price increase, whereas a negative outcome could apply selling pressure. Potential Retracement Levels Fibonacci Levels: Watch for potential retracements to the 0.382 ($2.10), 0.5 ($2.00), and 0.618 ($1.90) levels. Support Zones: Key support levels are around $2.00 and $1.90. Descending Triangle Pattern: XRP is currently in a descending triangle pattern, with a key support level at $2.10. Key Takeaways Given the overbought RSI and the current technical setup, a retracement to the $2.10 or $2.00 levels is possible before XRP may move higher. Keep an eye on the key support and resistance levels, and stay updated with the latest news and regulatory developments. This combined analysis suggests a bullish outlook for XRP/USD, but it’s crucial to be prepared for potential pullbacks. Stay informed and trade wisely!
In this market we can see sfp above high, so we can consider short positions, the condition for this is that the price must not break back above this support at price 2.0, if we break through, we can expect a reaction and continuation of the trend in bullish submission.
Following an earlier recovery attempt, GBP/USD reversed its direction and declined to its weakest level in nearly eight months near 1.2400. The renewed US Dollar (USD) strength on worsening risk mood weighs on the pair as trading conditions normalize after the New Year break
If my count is corect Im seeing one leg down to test the first wave, and then finishing the wave 5 at around the 8 dollar mark.
Hello Traders ! The AUDCHF price failed to break the support level (0.56345 - 0.56038). So, I expect a bullish move? _______________ TARGET: 0.56780?
Price is making HHs & HLs on the H4 timeframe showing bullish structure currently until price breaks below the previous HL to show a change in direction. My entry: 1.12660 My take profit: 1.3600 My stop loss: 1.12400 PLEASE BE AWARE THAT THIS TRADE CAN GO IN EITHER DIRECTION SO MANAGE YOUR RISK!!
we have a bearish price action and the low was swept for this reason we need to wait for opposing liquidity to ba taken befor we trade lower we need a confirmation befor taking the trade
Happy New Year!! Watch for momentum(Volume). Watch for hesitation(Low volume). Simple Plan. Simple Execution. Happy trading.
For those that have been holding and staking AKT through the bear, I think the time is soon coming for sewing the rewards! Here's one of my better posts about CSEMA:AKT , following the first FED Rate Cut: https://www.tradingview.com/chart/AKTUSD/BkszWHjx-AKT-Cup-Handle/ We anticipated that there may be a flip to 'risk on' following that event, and those that positioned there have been reaping massive rewards, in any alt, let alone just AKT. Going back further, I initially called out this bull pennant in September 2024: https://www.tradingview.com/chart/AKTUSD/bJgYCoYV-AKTUSD-massive-bull-flag/ Today, we're up 26% alone, and I think it is interesting that COINBASE:HNTUSD is not pumping in a similar fashion. Why might that be? Any ideas? This might be the last chance to get cheap AKT, the decentralized AWS. NFADYOR YAKWTFIGO
this is possibly a "head-and-shoulder" pattern formed in fkli-Jan. The neckline is around 1627-1634...daily and hourly charts are all UT. This is an early entry. See what happens next. *this is just a trading journal, not a suggestion to buy nor sell. For more information, please consult your financial advisor.