XRP/USD LONG SET UP (HODL)(UPDATE)
XRP LONG SET UP
Support: $0.83500/$0.80500/$0.78500/ $0.7460/ $0.72500/ $0.68500/ $0.64500-$0.62500
Resistance: $0.8500/ $0.88500/ $0.92500/ $1.0300/ $1.14500/ $1.29500/ $1.48500/ $1.68500/$1.74500/
XRP price has momentum building for a bullish breakout
XRP price already looked ready for a breakout on Thursday, but the tail risk of Biden being in europe for several meetings around Ukraine weighed on bull’s appetite to perform. Instead, XRP price is continuing its consolidation with lower highs and higher lows as buyers and sellers are pushed towards each other. It is just a matter of time before a breakout happens, and expect that to be in theform of a rally as global markets, particularly the Nasdaq, are on a winning streak that should provide additional support to XRP.
Ripple price will face first $0.8791 on its breakout, a historic pivot level that goes back to the end of November.
It bears specific importance as on previous occasions, the candles have either broken through it quite clearly, or each time only the wick of the candle made it through,
but the actual body of the candle was unable to either close or open above or below it.
From there, the jump to make is not that far anymore towards $0.90, with the 200-day SMA just above at $0.9090.
MAJOR NEWS CAN CAUSE A PULLBACK
Support: $0.83500/$0.80500/$0.78500/ $0.7460/ $0.72500/ $0.68500/ $0.64500-$0.62500
Resistance: $0.8500/ $0.88500/ $0.92500/ $1.0300/ $1.14500/ $1.29500/ $1.48500/ $1.68500/$1.74500/
XRP price has momentum building for a bullish breakout
XRP price already looked ready for a breakout on Thursday, but the tail risk of Biden being in europe for several meetings around Ukraine weighed on bull’s appetite to perform. Instead, XRP price is continuing its consolidation with lower highs and higher lows as buyers and sellers are pushed towards each other. It is just a matter of time before a breakout happens, and expect that to be in theform of a rally as global markets, particularly the Nasdaq, are on a winning streak that should provide additional support to XRP.
Ripple price will face first $0.8791 on its breakout, a historic pivot level that goes back to the end of November.
It bears specific importance as on previous occasions, the candles have either broken through it quite clearly, or each time only the wick of the candle made it through,
but the actual body of the candle was unable to either close or open above or below it.
From there, the jump to make is not that far anymore towards $0.90, with the 200-day SMA just above at $0.9090.
MAJOR NEWS CAN CAUSE A PULLBACK
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