The stars are aligning to welcome XRP..
Updated
Hello all, back at my weekly update and so far so good, all the movement that we were expecting as per the triangles and the resistance lines followed the script.. but now there has been a minor break of the triangle, could be a false break as I am expecting it to retrace back to the 0.45-0.46 level and then start its journey upwards.. A daily close above the 0.52 level would be a good entry point in my opinion as that is a key resistance that XRP has failed to break on several occasions. The other key resistance I feel is at the 0.73-0.75 levels.
In my view, after 7 months of agony that investors have faced this year - hoping, praying, waiting patiently for the storm to pass, some losing faith, some weathering the storm, some drowning.. suddenly the clouds have broken and the sun seems to be breaking through.. We are right at the SBI launch, the Nasdaq backed exchange is round the corner, Coinbase has got the green light to list tokens that may be deemed as securities, addition of other XRP fiat based exchanges etc etc.. logically there is no reason for XRP to go down except unless BTC crashes, but then considering the fundamentals of XRP and whats happening this month, this fall would be very short lived.. the only way I see XRP going is UP.. not expecting any spike but a slow and a very assured growth in the value of XRP in the coming months.
Sit tight, I think the ride has just begun..
My opinion is partially based on my chart above and partially on whats happening around in the news.. but please DYOR and trade as per what you think is right. Good luck !!
In my view, after 7 months of agony that investors have faced this year - hoping, praying, waiting patiently for the storm to pass, some losing faith, some weathering the storm, some drowning.. suddenly the clouds have broken and the sun seems to be breaking through.. We are right at the SBI launch, the Nasdaq backed exchange is round the corner, Coinbase has got the green light to list tokens that may be deemed as securities, addition of other XRP fiat based exchanges etc etc.. logically there is no reason for XRP to go down except unless BTC crashes, but then considering the fundamentals of XRP and whats happening this month, this fall would be very short lived.. the only way I see XRP going is UP.. not expecting any spike but a slow and a very assured growth in the value of XRP in the coming months.
Sit tight, I think the ride has just begun..
My opinion is partially based on my chart above and partially on whats happening around in the news.. but please DYOR and trade as per what you think is right. Good luck !!
Note
As mentioned last week, XRP did try to break out of the 0.51/.52 resistance shackles but an unsuccessful attempt left it to try and gain momentum again.. it hit the 0.45/0/46 levels and then hurried lower only to correct itself immediately back to the 0.45/0.46 level.We are at the same juncture now and XRP is now consolidating for another shot at the 0.51/0.52 level this week.
This week, with the momentum that it will gain from the volumes coming from the various XRP based exchanges, XRP will break free to take on the next formidable challenge of 0.71/0.73 levels in the coming weeks.
All the best to all, just my opinion, DYOR !! Good luck to all.
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.