XRP MUST BREAK 0.38 FOR BULLISH PUSH
XRP broke it’s consolidation during the beginning of August with the most recent bitcoin plummet. It has been failing to correct back to the $.45-47 resistance levels since.
The red dotted lines represent two different 2017 support lines that I feel are very accurate. I do not draw my trend lines from wick to wick or body to body, more so I look for more confirmative support/resistance levels. I do not simply draw from high to high or low to lower low, I look for areas that have additional support/resistance from previous action..
The green dotted lines are resistance levels representing levels XRP must return to if it wants to avoid another $.10+ drop to 2017 support levels again.
XRP volume has decreased massively since the beginning of 2018. The previous most resistance sits around $.38, with this broken we can look for a quick 15%+ rise back to the $.45 area. I would most likely make an entry around the $.39 level for more confirmation of a small bullish push.
If we notice billions being pulled over the next few days, we should then look for the previous supports as entry. I follow btc and xrp closely for similar price action.
XRP current price $0.335
This is my personal opinion, this is not investment advice, invest at your own risk and good luck trading.
COMPLETED 4:26pm LOS ANGELES
The red dotted lines represent two different 2017 support lines that I feel are very accurate. I do not draw my trend lines from wick to wick or body to body, more so I look for more confirmative support/resistance levels. I do not simply draw from high to high or low to lower low, I look for areas that have additional support/resistance from previous action..
The green dotted lines are resistance levels representing levels XRP must return to if it wants to avoid another $.10+ drop to 2017 support levels again.
XRP volume has decreased massively since the beginning of 2018. The previous most resistance sits around $.38, with this broken we can look for a quick 15%+ rise back to the $.45 area. I would most likely make an entry around the $.39 level for more confirmation of a small bullish push.
If we notice billions being pulled over the next few days, we should then look for the previous supports as entry. I follow btc and xrp closely for similar price action.
XRP current price $0.335
This is my personal opinion, this is not investment advice, invest at your own risk and good luck trading.
COMPLETED 4:26pm LOS ANGELES
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