Weekly Analysis by Xago’s Crypto Master – 2 August 2021

by | Aug 2, 2021 | Jurgen Kuhnel's Crypto Insights

#XRP is trading on a green 2 on a weekly time-frame according to the TD Sequential trading method. A longer term buy signal will be generated when the 2 goes above the wick of last week’s green 1. This is now at R11.46.

It is clear that the price is struggling around the 21EMA. Above, then below again all week. It is understandable that the market paused in this zone. Smaller time-frames did top out and a bit of a pullback is to be expected. If this scenario occurs and XRP can form a higher low, it would be bullish.

The bearish perspective is that although the price had a huge rally for the last 2 weeks, there wasn’t a real uptake in volume just yet and this is something to keep in mind. A push back down to the R8 area will most likely break this time around.