Ripple back in accumulation zone

Тема в разделе "English", создана пользователем Trading Ideas, 4 окт 2019.

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    Ripple back in accumulation zone
    XRP / USD KRAKEN:XRPUSD
    Luettis
    ZYvdJeCw_mid.png
    XRP has broken out the channel, which I declared to be the accumulation zone. But the rush rally ended quickly and the following correction led XRP even below the very important support, which is still the mentioned accumulation zone.

    And even it broke out to the bottom of the descending parallel channel - very serious!

    Luckily the Ripple turned on the bad level and returned in both: parallel channel (descending) and accumulation zone (horizontal).

    Looking the indicators MACD and RSI one can see, that they have grown against the trend - with big volatility of course. Their trends tend to be and to stay positive.
    Also the volume of trades has come back, indicating the interest of investors.

    Ripple is now approaching the upper limit of the falling trend channel - even if it continues sideways. Also the 50-day medium isn´t far away - another resistance.

    Speculative investors can accumulate some more Ripple-tokens on this level, hoping that XRP will break through the resistances. In this case the next resistance could be the falling trendline (dotted) at actually 0.30$.

    The risk, that XRP falls out of the support to zone to the bottom is still very high - in this case no next support level is nearby and the losses could be seriously.

    Ripple announced the cooperation with Mozilla Firefox concerning an intern payment for advertisement. This is good news.
     
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