✴️ XRP Weekly, New Signal
Updated
This week XRPUSD had the best close in a year, since May 2022.
It is the first time that XRPUSD closes weekly at this price, 0.5353, to the upside since March 2021.
Back in December 2017 this same level, mapped here with a light blue space, marked the difference between bears and bulls.
RED = bears | GREEN = bulls.
All the trading below this level we are calling it the consolidation phase. After the consolidation we get a bullish wave.
Last weeks close is a strong development.
This resistance level has been challenged three times recently: Oct. 2022, March/April 2023 and May 2023.
The consolidation phase can extend for a long time but it can just as easily be near its end.
The fact that we have higher lows since June 2022... These charts are missing the volume... It is a bullish signal.
We continue bullish unless/until the chart changes.
It is now officially a year since the orthodox end of the bear market, June 2022.
It needs more time but everything will be clear this same month.
Stay strong and patient.
Namaste.
It is the first time that XRPUSD closes weekly at this price, 0.5353, to the upside since March 2021.
Back in December 2017 this same level, mapped here with a light blue space, marked the difference between bears and bulls.
RED = bears | GREEN = bulls.
All the trading below this level we are calling it the consolidation phase. After the consolidation we get a bullish wave.
Last weeks close is a strong development.
This resistance level has been challenged three times recently: Oct. 2022, March/April 2023 and May 2023.
The consolidation phase can extend for a long time but it can just as easily be near its end.
The fact that we have higher lows since June 2022... These charts are missing the volume... It is a bullish signal.
We continue bullish unless/until the chart changes.
It is now officially a year since the orthodox end of the bear market, June 2022.
It needs more time but everything will be clear this same month.
Stay strong and patient.
Namaste.
Note
Long-term downtrend has been broken... Consolidation phase confirmation.Linear and log, very clearly
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