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Independent Market Technician DOM (@Traderview2) Drawn The encryption community was appointed to an unconventional percentage, but it was increasingly seen: XRP at a price in the medieval crude in West Texas.
Link between XRP and USOIL
In the two-hour trading screen shot, the analyst explains that the XRP/USil-USil pair is fading-on-in the exact same resistance shelf that culminated in the basic procedure since mid-December. “Last night, we took advantage of the five -month domain again and fully rejected the price,” he wrote, adding that “it is surprising how much this level is respectful because it gives the clear bulls in the area the need to fully restore to the next motivation.”
Since December of last year, the XRP price has been thrown exactly in the exact same resistance area. On May 13, Dom wrote: “Can you ask about a cleaner?
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This ceiling is restricted to the DOM chart with a gray coal block from about 0.0418 to 0.0430. Each of the last two investigations into the band-one during the Asian Trade on May 12, and the second during the new York session on May 14-produced the acute negatives.
Momentum, moreover, flows against heavy sales pressure in the distinctive symbol. Quoted from the flow of requests on the series, the most prominent DOM that “$ 210 million of XRP has been sold on the net market over the past seven days-though, XRP has risen by 20 percent.” He argues that such a difference means absorption by professional liquidity providers instead of retail enthusiasm: “It is possible that the market makers or whales are aggressive through negative price offers. When this dynamic continues, they usually precede the upscale explosives once the sellers themselves are exhausted.”
Community personnel quickly asked what XRP final will end up. One of the followers, the standard (@xrPdemon589), was pressed: “Do you say if that breaks it, it will have another equivalent move?” Dom replied, “If we see a full outbreak, yes historically, it is just time until XRP/USD prints the highest new level.”
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Crypto Coaterator Moon Lambo (Moonlamboio) inquired about the intellectual basis to connect an energy -based percentage with an independent distinctive symbol. DOM did not prove any basic thesis, but stressed the analytical tool: “I really think it provides another perspective to make prices when we install it on something deeply woven into the economic system. I do not think that there is any specific relationship – it is useful to see the things that you will not see on the dollar’s pair.”
Technically, the map is dual. DOM repeat that “specific alerts for full” are higher than 0.0418-0.0430; That is, near two hours in that area, in his opinion, is a decisive expansion of the range and “giving the bulls listed to the next defense above.” If buyers instead give up the amber axis at 0.0394, the door reopens it on simple support 0.0378, with a break there displaying the bottom of 0.0357 and denies the current series of its lowest levels.
Until XRP/USOIL remains in her box for five months, but the act of watching the husband, as DOM claims, sharpens the macro lens for merchants. “BTC, USOIL, XRP – their adherence is just another way to trim liquidity”, books. “Sometimes the edge simply sees the same market from a slightly different angle.”
At the time of the press, XRP was traded at $ 2.46.
Distinctive image created with Dall.e, Chart from TradingView.com
