Cheeky Crypto’s JB delves into Ripple’s XRP price movements, employing technical analysis across multiple timeframes to decipher potential short and long-term scenarios.
In a recent video, Cheeky Crypto’s JB welcomes viewers to an insightful discussion on Ripple’s XRP price trajectory, analyzing its performance across one-hour, one-day, and one-week timeframes.
Starting with the one-hour chart, JB highlights XRP’s recent upward movement, noting the completion of an ABC structure and anticipating a move to the downside. He targets a range between 46.9 and 46.2 for the next downward move.
Expanding the analysis to the one-day chart, JB identifies a corrective five-wave move to the downside, suggesting a corrective ABC structure within the fifth wave. He expects further downward movement towards 45.2 to 43.2 in the C-wave.
Shifting focus to the weekly chart, JB points out XRP’s struggle between the 50-weekly EMA and 200-weekly EMA. The RSI’s downward turn indicates potential bearish movement.
JB emphasizes the importance of the upcoming weekly close, which will determine the dominance of bulls or bears. He also mentions the overbought Stochastic RSI and the bearish crossover of the 50 EMA below the 200 EMA on the daily chart.
Promoting Cheeky Crypto’s educational content and resources, JB reminds viewers that the video is for educational purposes and not financial advice. He concludes by wishing the audience a nice weekend and reminding them to stay safe and trade wisely.