We are looking at Ripple (XRPBTC) today on Poloniex to be able to see the full history/data... Prices recently hit/activated very strong/old support.
Normally when strong support is hit we either see a bounce or change of trend.
We can see that prices hit the same level hit back in 2014, 2015, 2016, and 2017 before the second XRPBTC bull run.
After this XRPBTC only hit this same level again in 2017... It grew massively and then the bear market hit.
Now, for the first time in almost 3 years, we hit the same support... This is just a quick analysis with a signal that can lead to some additional retrace, but looking at the other altcoins, it can also mean that Ripple vs Bitcoin hit a low.
The MACD is starting to curve and the STOCH is looking bullish coming out of an all-time low.
Keep an eye on Ripple... It will soon have its moment and this one has no stops when it starts to go.
Namaste.
Normally when strong support is hit we either see a bounce or change of trend.
We can see that prices hit the same level hit back in 2014, 2015, 2016, and 2017 before the second XRPBTC bull run.
After this XRPBTC only hit this same level again in 2017... It grew massively and then the bear market hit.
Now, for the first time in almost 3 years, we hit the same support... This is just a quick analysis with a signal that can lead to some additional retrace, but looking at the other altcoins, it can also mean that Ripple vs Bitcoin hit a low.
The MACD is starting to curve and the STOCH is looking bullish coming out of an all-time low.
Keep an eye on Ripple... It will soon have its moment and this one has no stops when it starts to go.
Namaste.
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