XRP IS SITTING ON MAJOR TREND LINES FOR BTC, USD PAIRS - CM101
XRP / USD / BTC TA
Here we take both XRP pairs which are USD and BTC and look for similarities or any patterns. Here we find that both pairs are sitting on major trend line supports. 700+ Days worth of strong trend line for XRP / USD and 500+ Days worth of strong trend line for XRP / BTC pairs.
Reason we are highlighting these trend lines and putting that much weight on them is due to both of them being nearly 17 Month Long for BTC pair and nearly 24 Month long for USD pair. That's very substantial for traders and holders as it shows that XRP was able to hold that trend for a very long period which is unusual for crypto where most trend lines get broken within just a few month.
Subsequently we also have ATH Long positions piling up which we would take a bear sign if XRP was rising, however since we see downward movement from XRP and LONG positions accumulating higher on daily basis, that also indicates a bullish momentum that may be very close for XRP.
Nevertheless, we should note that break of the trend lines is also likely due to the weak crypto market overall, unless we see XRP decouple from Bitcoin. Short term all eyes on that trend line with anticipation for very strong bounce which would transition into immense upward momentum and buy in pressure.
Below are addition XRP TA analysis
Here we take both XRP pairs which are USD and BTC and look for similarities or any patterns. Here we find that both pairs are sitting on major trend line supports. 700+ Days worth of strong trend line for XRP / USD and 500+ Days worth of strong trend line for XRP / BTC pairs.
Reason we are highlighting these trend lines and putting that much weight on them is due to both of them being nearly 17 Month Long for BTC pair and nearly 24 Month long for USD pair. That's very substantial for traders and holders as it shows that XRP was able to hold that trend for a very long period which is unusual for crypto where most trend lines get broken within just a few month.
Subsequently we also have ATH Long positions piling up which we would take a bear sign if XRP was rising, however since we see downward movement from XRP and LONG positions accumulating higher on daily basis, that also indicates a bullish momentum that may be very close for XRP.
Nevertheless, we should note that break of the trend lines is also likely due to the weak crypto market overall, unless we see XRP decouple from Bitcoin. Short term all eyes on that trend line with anticipation for very strong bounce which would transition into immense upward momentum and buy in pressure.
Below are addition XRP TA analysis
