💥Hey guys! Wishing the best as always, we're just gonna quickly dive in to this as we've had that dramatic fall over night which we can see has been thanks to the loss of that 200 EMA by which we had a real dramatic exit for the 200 EMA when we left the mountain heading straight out and demonstrated in the chart below:
💥I've added this new descending channel that we can see XRP has been pulled into now thanks to all that though it's good to note that we're looking at strong support that's kicked in above our 0.366 marking so to see that support is positive of course being that we didn't even had to bounce off of the actual marking but rather above it twice already.
💥0.31752 Is our point of resistance right now as we can see by the first attempt we made to break above that failing pushing us down a bit to where our second mountain now is already looking much better than the first having broken above 0.3174 with strong pressure which is a positive of course, we'll need that pressure to continue so we can get a solid break above.
💥0.377446 is our point that we are gonna be aiming for overall right now as we need to meet back up with that point being that our last mountain's support up above the 0.37 level is 0.37443. This is gonna be critical right now, we will need strong support to keep us moving, and if you we're wondering why this fall might have happened, china definitely plays a role after showing that it's lagging with it's weaker economic data showing it slowing down in July. That in itself isn't the greatest but isn't necessarily a huge shock though the market is taking it as one for sure.
💥Gonna leave the idea here since it is rather pertinent but should we leave that descending channel, we should hopefully expect another meeting with our 200 EMA friend up above us right now but if there's ever a time we need support, it's now.
💥Thank you guys so much for tuning in, if you'd like to leave a like or follow it'd be much appreciated, simply doing what I love. Thank you.
~ Rock '
💥I've added this new descending channel that we can see XRP has been pulled into now thanks to all that though it's good to note that we're looking at strong support that's kicked in above our 0.366 marking so to see that support is positive of course being that we didn't even had to bounce off of the actual marking but rather above it twice already.
💥0.31752 Is our point of resistance right now as we can see by the first attempt we made to break above that failing pushing us down a bit to where our second mountain now is already looking much better than the first having broken above 0.3174 with strong pressure which is a positive of course, we'll need that pressure to continue so we can get a solid break above.
💥0.377446 is our point that we are gonna be aiming for overall right now as we need to meet back up with that point being that our last mountain's support up above the 0.37 level is 0.37443. This is gonna be critical right now, we will need strong support to keep us moving, and if you we're wondering why this fall might have happened, china definitely plays a role after showing that it's lagging with it's weaker economic data showing it slowing down in July. That in itself isn't the greatest but isn't necessarily a huge shock though the market is taking it as one for sure.
💥Gonna leave the idea here since it is rather pertinent but should we leave that descending channel, we should hopefully expect another meeting with our 200 EMA friend up above us right now but if there's ever a time we need support, it's now.
💥Thank you guys so much for tuning in, if you'd like to leave a like or follow it'd be much appreciated, simply doing what I love. Thank you.
~ Rock '
