XRPLong
XRP rally starting ?
Updated
Long term analysis - Monthly time frame
XRPUSDT witnessed a completely stunning bullish explosion between March 2017 and January 2018. Since then XRP has been evolving in a multi-years triangle pattern coming to an end. The extremely flat and narrow Bollinger Bands hint at a potential explosive move. First part of this explosive move actually already happened during the last days and price is now encountering the triangle resistance line. This is a strong confirmation of market participant interests, let’s monitor the potential entry point on the lower time frame.
Strategy - Short term analysis
All elements for a potential explosive move are gathered. It gives us a nice trade setup with a very good risk reward ratio.
Buy on the break of the triangle resistance at 1.20$.
Invalidation
Mental Stop: below the last low of 1.05$
If prices retrace to this level we will wait for the daily close price then set a Stop loss ¼ or Risk below the weekly close price.
XRPUSDT witnessed a completely stunning bullish explosion between March 2017 and January 2018. Since then XRP has been evolving in a multi-years triangle pattern coming to an end. The extremely flat and narrow Bollinger Bands hint at a potential explosive move. First part of this explosive move actually already happened during the last days and price is now encountering the triangle resistance line. This is a strong confirmation of market participant interests, let’s monitor the potential entry point on the lower time frame.Strategy - Short term analysis
All elements for a potential explosive move are gathered. It gives us a nice trade setup with a very good risk reward ratio.
Buy on the break of the triangle resistance at 1.20$.
- Objective 1: back to the next resistance at 1.70$ (+40%)
- Objective 2: Following resistance at 3.25$ (+170%)
- Objective 3: ATH at 18$ (+1400%)
Invalidation
Mental Stop: below the last low of 1.05$
If prices retrace to this level we will wait for the daily close price then set a Stop loss ¼ or Risk below the weekly close price.
Trade active
Buy signal was given, let's monitor this trade closely 🚀Note
Objective 1 has been reached ✅
Let's take our first profits with 40% gains and secure our position to target the next objectives.
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