XRP Bullish scenario
Hi there,
This is my vision on XRP if the bulls can overtake the bears in the coming weeks.
On the daily XRP is forming a bull flag with an ascending triangle and it's been finding support on the 200 daily. If it is to break out we will probably go above the previous high.
Now volume is important to give it momentum, xRapid adoption or speculation might cause this. Shorts are also picking up again so another short squeeze when we break resistance is also possible.
There are some mixed signals at the moment, we also see a double top which makes this look a bit like a bull trap.
There are points to be made on the bear and bull side. However oktober till december are historically good months for crypto so i'm leaning towards the long side here.
XRP makes a lot of vertical moves so it is important to keep an eye on this if it breaks out so we don't miss the opportunity.
We probably see this play out somewhere around the 15th.
Comments, critics, and different ideas are most welcome. So if you don't agree with me please let me know, i'm always eager to learn.
This is my vision on XRP if the bulls can overtake the bears in the coming weeks.
On the daily XRP is forming a bull flag with an ascending triangle and it's been finding support on the 200 daily. If it is to break out we will probably go above the previous high.
Now volume is important to give it momentum, xRapid adoption or speculation might cause this. Shorts are also picking up again so another short squeeze when we break resistance is also possible.
There are some mixed signals at the moment, we also see a double top which makes this look a bit like a bull trap.
There are points to be made on the bear and bull side. However oktober till december are historically good months for crypto so i'm leaning towards the long side here.
XRP makes a lot of vertical moves so it is important to keep an eye on this if it breaks out so we don't miss the opportunity.
We probably see this play out somewhere around the 15th.
Comments, critics, and different ideas are most welcome. So if you don't agree with me please let me know, i'm always eager to learn.
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