XRP Ascending Triangle to $0.80 & Beyond
Since XRP got rejected off of the $0.80 daily resistance level, the price has been a falling knife back down to catch a known support level which was $0.4792 monthly support.
XRP saw a clean reversal off of the $0.47 without closing below that monthly support level, reversing back upwards to touch $0.56/
From here I see taking profits on longs at $0.67267 for a 1st touch rejection and going back down to touch the bottom trend of the ascending triangle, until eventually surpassing that 1st touch rejection and heading up towards $0.80 & beyond.
There should be some decent pullback after this sudden spike up, it's up 12% on the day after capitulating. Think about all the traders telling you to short the bottom etc. at $0.47 lololol that's where you should be buying!!! And signaled that too! That's what capitulation is though, it really makes you think the sky is falling and the only option is down, that's how you know where the bottom is for future reference.
XRP is not falling down to Santa's Lair although I would like it to, I can see a re-entry price for people that woke up late at $0.562 going long:
TP1 🎯 $0.67267
TP2 🎯 $0.80000
TP3 🎯 $0.89999
As always please do your own research, I am not a financial advisor.
XRP saw a clean reversal off of the $0.47 without closing below that monthly support level, reversing back upwards to touch $0.56/
From here I see taking profits on longs at $0.67267 for a 1st touch rejection and going back down to touch the bottom trend of the ascending triangle, until eventually surpassing that 1st touch rejection and heading up towards $0.80 & beyond.
There should be some decent pullback after this sudden spike up, it's up 12% on the day after capitulating. Think about all the traders telling you to short the bottom etc. at $0.47 lololol that's where you should be buying!!! And signaled that too! That's what capitulation is though, it really makes you think the sky is falling and the only option is down, that's how you know where the bottom is for future reference.
XRP is not falling down to Santa's Lair although I would like it to, I can see a re-entry price for people that woke up late at $0.562 going long:
TP1 🎯 $0.67267
TP2 🎯 $0.80000
TP3 🎯 $0.89999
As always please do your own research, I am not a financial advisor.
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