XRP : US Dollar - Market Breakdown !
Hello everyone, hope you're having a good time.
The market has been quiet for quite some time now, apart from Bitcoin, Ripple too has been moving in sync with our previous analysis.
As you can see on the weekly time-frame we haven't made any major move apart from last week's breakout from the 0.282 weekly resistance which now is acting as a support.
Judging from the current momentum we could be seeing a retest of the 0.282 resistance/support which will indicate the next potential movement of XRP.
If the support holds up well, we should be underway to the next upside target - 0.327-0.33, however a break below the weekly support can take us down to .27 cents.
Taking it down to the daily, there's not much to discuss as we are on a consolidation phase for days now and still patiently waiting for a breakout. When it comes to predicting the next move, it all comes down to the 0.282 weekly support and the .30 resistance - which I will be closely monitoring for any breakouts before entering any trades.
The market has been quiet for quite some time now, apart from Bitcoin, Ripple too has been moving in sync with our previous analysis.
As you can see on the weekly time-frame we haven't made any major move apart from last week's breakout from the 0.282 weekly resistance which now is acting as a support.
Judging from the current momentum we could be seeing a retest of the 0.282 resistance/support which will indicate the next potential movement of XRP.
If the support holds up well, we should be underway to the next upside target - 0.327-0.33, however a break below the weekly support can take us down to .27 cents.
Taking it down to the daily, there's not much to discuss as we are on a consolidation phase for days now and still patiently waiting for a breakout. When it comes to predicting the next move, it all comes down to the 0.282 weekly support and the .30 resistance - which I will be closely monitoring for any breakouts before entering any trades.
Related publications
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.