XRP Ripple, Triangle and Range support/resistance. Part 2
Updated
There is not much to add to the previous analysis, except that the xrpbtc' pair seems to have made a small breakout. The one i posted in my public channel just before that small pump. Here we can also see an attempt to push up as well, but volume is still low. It is increasing a bit which is good and it is still below all the resistance levels, so it's normal that it's not very high. But it must increase if we do break certain levels. Like the 0.385/0.390. The big resistance is around 0.40ish.
It is a good sign, that since we broke that channel from the previous analysis, that we have stayed above the break out level (green support zone). So everything is in place to make a rally, i think it's only Bitcoin' that can ruin this. But if we look back to that rally a few weeks ago, to 0.46. That breakout was almost perfect. But because of that huge Bart move in Bitcoin, it dragged the whole market down like it was nothing. Just saying this to be aware of things.
Previous analysis:
It is a good sign, that since we broke that channel from the previous analysis, that we have stayed above the break out level (green support zone). So everything is in place to make a rally, i think it's only Bitcoin' that can ruin this. But if we look back to that rally a few weeks ago, to 0.46. That breakout was almost perfect. But because of that huge Bart move in Bitcoin, it dragged the whole market down like it was nothing. Just saying this to be aware of things.
Previous analysis:
Note
This was the btc pair chart i am mentioned above.Looks like XRP/BTC might break resistance now. It could still be a bear flag though, but as long as that blue line on the left holds, the potential is big.
I think if BTC goes up the coming days, XRP will play catch-up.
Note
Damn, just after my post it pumps big on Bitfinex. But same happened a yesterday with ETH. We saw a decent pump on Finex for ETH, but not at other exchanges.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.