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Fair Market Analysis: XRP

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Fintech Daddy will be looking at XRP and the Long-term View of it using two different graphs to compare:

• MACD Analysis
• Price Action Graph using Volume

MACD Graph Bearish:

The Graph takes a look at XRP whenever there is a MACD Crossover. There has been Four Bearish MACD crossovers and 2 Bullish Crossovers since the start of 2018. The other Crossovers aren’t included as they either lack volume or they have been traps.

We have seen the following from the Bearish MACD crossovers:

• February 2018 Crossover to the downside netting -61.99%
• June-July Bearish Crossover netting -38.33%
• August Crossover Netting -42.61%
• December Bearish Crossover -47.50%

We also see another bearish Crossover starting January 2018. An average of the previous four crossovers equates to -47.356% that would take us to $0.216 or October 2017 Highs.

MACD Graph Bullish:

The Graph takes into account three MACD crossovers to the upside not withstanding those that have been triggered as Bullish crossovers but lacked the volume or the momentum to see more than a nominal increase.

• April 2018 crossover to the upside 98.72%
• September 2018 crossover to the upside 125.52%
• December 2018 Crossover of 31.34%.

If there is another bullish crossover to the upside, this would see an average of 85.19% seeing from current figures of $0.32 to $0.60.

Price Action Graph:

• Volume has slowly been decreasing since the Great November Crash of 2018, since then we have seen it slowly decrease on the 3D Graph.

• Likewise, Accumulation since December has almost bottomed, this comes as a surprised as following Christmas; you would expect at least the accumulation to slightly bounce following gift money and discussions round the table.

• Using charting patterns, we can identify that XRP since April has been in a downtrend with volume only rising above the 90D Moving Average during September when we saw a close to 200% pump.

• We can now identify that XRP is close to bottoming on the triangle pennant with the bottom resistance line being at $0.29636 or August 2018 Lows.

• A bounce from the $0.29636 figure would see a move above the 15D Moving Average, as the last time we touched the lower trendline, we saw a 200% move.

• Trading above the 15 Day Moving Average has historically netted 50% gains across 2 weeks.

• A move following a reversal from the lower trendline will see momentum touch the upper trendline aiming for $0.51 and filling the volume gap in that area.

FintechDaddy Says: Despite the MACD graph illustrating we could have a dump to $0.21, it looks more than likely that we will see a bounce from the lower trendline; a move similar to that of September. We will see a 75.71% move resulting in the $0.51 area.

FintechDaddy is relentlessly passionate in his technical Analysis for both CryptoAssets & Forex.

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Fintech Daddy
FintechDaddy is relentlessly passionate in his technical Analysis for both CryptoAssets & Forex. Join his Charting Playground available exclusively on Telegram. There you are either a teacher or a learner. http://t.me/Chartground Stalk him on Twitter:

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