I wrote down six things that I want to share with you today that I think important for XRP as we continue this strong move to the upside. The one thing that I'm struggling with right now for XRP. The only thing that I'm really dealing with here is a volume climax, as you can see right up in this area that we're having as we break through 31 cents and it's, also happening when our RSI is up around 80. So, as we know in this space, we can get up overextended into the 90, so XRP definitely could even still keep running and maybe hit some of these targets up here. Around 37 cents 41 cents before we have a cool down. But what you have to look at and remember in the market is that the market has to breathe. It has to have time to rest. We don't want anything to go straight up because if some goes straight up, most likely it's gon na come straight back down. Just like, when we saw last time, XRP was around 25 cents and it went all the way up to almost 4 in the matter of a month, and then it took two years for it to come all the way back down to where we're at now so It'S extremely important for us to remember those type of things and and to take our profit when it's staring us in the face now for me, I've been in my position since 23 cents I'm.
Still in it right now, I want to see where the candle closes today because, like I said in the video earlier, I don't like to go off indicators. I want to look at price action because we can get so overextended in this space. You know this is just one of those areas, guys where, when we look back, you can have spikes just like this from 29 cents, all the way up to 48 cents, and that happens in the matter of a day and a half two days and that's. One of the smaller spikes so a lot of the times you have to throw the RSI to the side just a little bit and play the price action now as I'm, looking at the RSI, something that I'm gon na be paying attention to as I'm. In my position, waiting for the daily candle close and I want to see what happens with this candle, I want to see how strong it is because, if we have a volume climax like we're having right now that huge stick of volume and we end up having Something like a hanging man that can give you an indication that we may start that cooling down period and as we make ool an area that I'm looking at for support, would be around 28 cents. So if this is an area, we can get a push up into 33 cents and say you know you take your profit there and you're able to put buy orders back around this area.
28 cents. You can pick up a lot more XRP before you potentially have that next pump and that's just some of the things that I will do when I'm confident that the trends moving in the direction that I'm looking for. But you know the difficult thing with XRP is we have to pay a lot of attention to Bitcoin as well, because XRP could be looking great and have a wonderful chart setup taking place, but if Bitcoin starts dumping them it's gon na bring XRP down and that's The importance of locking in profit that's all I'm saying guys and that's that's. What I'm going to touch on here today is that locking in profit, when you have it staring you in the face and when we're going straight up now what we're looking for, like, I said this candle right here today to close up above 31 cents. I want to see that we get a nice candle close up above that then. What I believe we need is some type of consolidation or a retracement back down into this area, so we can breathe. Just like we did here. We had a nice pump here. We cooled down, we breeze for about four days and then we're having this next move up. We don't want that straight up and down Jack in the Beanstalk type deal guys that's, where you get in trouble, so we're gon na need some type of retracement here, but I want to see us candle close above this 31 cents today.
That would be great on the one day time frame, then the next area I have is 34 cents for overhead resistance. You can see we actually whipped up to that today. So we're gon na pay attention to this wick and then the next area I'm looking at is around 37 and it will call it thirty. Seven and a half cents then be up around 41 cents and then that 50 cent area remember each time we break through one of these. We want to find support off it break through the next one, find support off it break through the next one find support and keep this moving. We need to keep this trend moving and we're. Also, looking at the moving averages here, as you can see, our twenty EMA is crossed up above our 200 and when that crossed there, that's kind of what gave us that pump. So I like to pay attention to these crosses on an intermediate to longer term timeframe, and then what I'm also looking out here as well, is a potential golden cross right here of this 50 coming over top of our 200. If that happens, that's what could propel us up to around that 50 cents over the next weeks or so because, as you see back in here when we had our 20 EMA cross down through our 50 or I'm, sorry guys, my apologies when our 50 crossed down Through our 200 right here that death cross, we ended up going from about 35 cents, all the way down to 17 cents.
So when these crosses happen, they can be very powerful in telling you the direction of the trend. So if we can get one of these crosses to the upside here, that might be enough to get us up to that 50 cents and that's. What I'm looking for here, as I continue to trade, this back and forth, but that's the risky thing guys and why? I said I'm even sitting in my position. Right now is because this market moves so fast. You can be looking at an RSI in the 80s. You sell out you go to bed overnight and then you come back and it cooled down to 72 and then it pumped hard again and it's up at 85. Now, when we're rolling through these overhead resistances so that's, why you really have to be careful if you take your profit too soon, sometimes, and what I prefer and what I have in right now is just a break even stop loss and, as this continues to move Up I'm, just gon na slowly start moving it up and chasing it because I don't want to get it too close in this market, because we have very long wicks and a lot of those times, you'll catch a long, wick and then it'll move on you. So I want to give it some room to breathe. I want to continue to move up, but I want to give it time to develop and right now I have three trend lines that I'm looking at for XRP this white one.
This is our overall uptrend that I'm looking at this teal trend line right here, then this orange one moving up and I'm going to be looking for trend line, breaks to the downside. One moment guys one second I'm, going to be looking for trend line, breaks to the downside as to when to get out of my position, that's what I like to do so, if I see you know us break down through and I'm trading on a shorter term Timeframe – and this is my trend line that I'm paying attention to so say we start having candle closes below this and we also start losing some moving averages. Then that might be some time to take some profit but we're, just at one of those sticky spots. Right now, I want to see what we do. Typically, when we have volume, climaxes we'll have a big dump. Afterwards, you'll have a big volume, climax and then you'll dump and a lot of times like this as well. When you dump to the downside, it will be on a volume, climax and then you start moving the opposite direction so I'm, really watching this candle and I'm watching this 31 cents to see what we end up doing with it. If we see a very large wick and a lot of rejection and we're all the way and closed down in here, then that's going to show a little bit of weakness and we may have to start rolling over and try to power up off this.
Twenty EMA. Potentially or off this 200 moving average as support or one of these trend lines so that's, the game plan that I've been looking at and paying attention to is trend, lines, support and resistance, moving averages and also paying a lot of attention to the volume and to Give you an example of how fast this market moves. We haven't really got to see XRP in a true bull market. It was so fast what happened here. We were basically in a symmetrical triangle and we were at about 25 cents and we went from 25 cents. All the way up to 4 pretty close to 4 and it happened in a month's time. So we really haven't seen a real true bull market for XRP, where we're making steady higher highs and higher lows and that's what we want to see. But do you see what I'm talking about how when we pump, we may only move sideways because we're so bullish for about five days or so a little flag, and then we pump again and then we flag, then we pump again and that's just how fast it Is so if you do sell out it can get a little bit risky that you can't get back in your position so that's all the factors that go through your head. It'S, are you trading on an intraday timeframe? Are you swing trading? Are your long term? Investing I'd like to know what you guys are doing down low.
Are you long term investing or you swing trading XRP? Are you intraday trading it? When you see us you know, do you pay a lot of attention to the RSI? I want to hear these questions. You guys I do like. I said: I pay a lot of attention to it, but candle closes come first support and resistance come first trend lines moving average. That stuff is going to come. First then, I'm going to factor in the RSI, because I've had one too many times to where I've sold out. You know even something like this let's throw the RSI on. Give you a good example. So stay like right. Even in here we had a massive candle. We moved from 25 cents, we went all the way up to 55 cents. This was a massive move on heavy volume, and you can see right here that our RSI was up to 92 and you would have said: ok it's a 92. We better close out right now and then this thing just keeps pumping and we stayed up above 74 let's see roughly from December 12th, all the way close to January 7th, so for almost a month in that overbought condition so that's. Why crypto is just different and that's the main thing? I can tell you I'm reading, all my books. You know even in front of me right now. I have technical analysis of stock trends. I have the Encyclopedia of chart patterns I'm reading this stuff, but crypto is a different, beast, it's, a different monster.
All this stuff is great and I also trade the stock market. So I use it in that aspect, but it's taught me so much, but crypto is different. It just is, and you have to in a way take away some of the oscillators and just really go off that price action go off. The candles go off support and resistance and just really sit back and watch as you can see even that's. Each time we pump massive look how long it took to shake this out, just like that and here's, where we're at now having massive volume right up in this area and we've lost a little bit. Today we were up about 34 and a half, so we really did get up there, but we're at 0.32, 8 to 3 right now. So if you guys get some from this leg, subscribe hit that notification bellow apologize for keeping me. If I kept you a little too long here, but I just want to go through these things and really take a look at them and then you make your decision and, like I said right now, I'm still just sitting in my position. I want to see what we do with this candle close the day. We want to see if we can close up above that 31 and we'll call it 31 and a half cents be a really good thing for XRP and then maybe consolidate on that area.