Update $Xrp Futures/Margin/Spot;
After a little realignment of the red angled horizontal support, you can see that the trend is well within range but has little time to make the next big move on the 1 hour and maybe a significant move on The 4 hours timeframe.
• Considerations
At this point, making a decision is quite difficult since a breakout from any direction could lead the trend towards that direct for about 3% - 7% on the 1 hour timeframe.
But here are few things to be considered before making a decision on the direction of the trend.
NOTE 🚫: This is not a trading advice and actions take by any trader is solely responsible to the trader.
1. Bitcoin made very small bullish percent rally already and is heading downwards a bit for correction. Since most coins/tokens follows the trend of Bitcoin, XRP might go bearish and therefore a bearish breakout .
2. According to the RSI indicator; on the 1 hour timeframe, XRP is currently trending at about 30%-40% in descending even though the candlestick are on a rather straight trend, XRP might soon reverse for an upward trend according to the RSI indicator.
3. According to the Bollinger Bands Indicator;. XRP just nipped above the upper quadrant of the Bollinger Bands which indicate a potential bullish trend, and you can see from the trend that the Bollinger bands are very closely packed together meaning a nearby volatile action. When Bollinger Bands get close as this, then it means there's a big move few candles in the future .
Use this information as you see fit, this is not a trading advice but simply an awareness post.
Goodluck trading with $XRP
