XRP:USD - Market Breakdown 25.02
Hello traders,
Here's a market breakdown of XRP : USD on the weekly time-frame.
The start of 2020 was marked by massive growth in the crypto market, with XRP being one of the most volatile altcoins of the market - rocketing from .19 cents all the way up .35 cents.
This movement resulted with a massive spike, but unfortunately the price reversed and closed back below .30 cents support.
After failing to close above this crucial support, XRP plummeted even lower just above the .25 cents support, and also re-testing the descending trend-line that we just broke above from.
Looking at these levels you can see the price is sitting in a key decision point, should XRP stay above this .25 - we could be reversing back to .30 cents where we'll be monitoring for a possible head and shoulder pattern completion.
However knowing that this level is a key decision level we should be looking closely for any downside spikes, if XRP manages to break and close below the .25 cents region we could be seeing a .23 or even .20 re-test before going higher.
Here's a market breakdown of XRP : USD on the weekly time-frame.
The start of 2020 was marked by massive growth in the crypto market, with XRP being one of the most volatile altcoins of the market - rocketing from .19 cents all the way up .35 cents.
This movement resulted with a massive spike, but unfortunately the price reversed and closed back below .30 cents support.
After failing to close above this crucial support, XRP plummeted even lower just above the .25 cents support, and also re-testing the descending trend-line that we just broke above from.
Looking at these levels you can see the price is sitting in a key decision point, should XRP stay above this .25 - we could be reversing back to .30 cents where we'll be monitoring for a possible head and shoulder pattern completion.
However knowing that this level is a key decision level we should be looking closely for any downside spikes, if XRP manages to break and close below the .25 cents region we could be seeing a .23 or even .20 re-test before going higher.
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.