Hi there all. Let's have a quick update on XRP 4 Hours time frame. XRP continuing sideways since the last time we discussed it.
4 Hours Time Frame
As you can see below, we have a small triangle where the supports and resistances get closer for a break. Support is @ $0.3144 and the Resistance is @ $0.2918.
XRP should stay above first, $0.3333 for 12 hours and then above $0.40s with the same amount of time for us to continue the short term bullish scenario. It can be also observed that we are still under the Ichimoku Clouds and by maintaining the $0.33 level and higher, we will be able to Confirm, that the XRP is continuing the 3rd Wave.
4 Hours RSI
Relative strength indicator is currently above 50% and has higher lows which are good indications. $0.33 resistance and above actions will let us break the RSI resistance as well.
Wave Trend Indicator
Normally, we have a 1-3 turning point while checking this indicator. Please check the previous tops and bottoms where we have only 1 greed or 1 red dot.
However, when we check the right side of the indicator, it is obvious that the Disruption is in play. Multiple buy and sell signals in a row create disturbance in the trader's decisions.
Currently the indicators are above mid level and have, green signal which also supports RSI.mid-level.
XRP must make a move above $0.33 to keep up with the previous pace and create the 3rd Wave in 4 Hour time frame. Currently, both wave trend and RSI indicators are supporting this.