XRP/USD - Decision time - pump or dump? Wedge.
XRP is at a decision point as indicated by this ascending wedge which is reaching its apex.
Price has two paths as always, first one where we break above the wedge and we pump hard - this would be a very bullish move and XRP could quickly go above $1.
Or we fall off the wedge and seek support with a good target at around $0.50 cents.
My bias is bullish however, reason being that the price action has been bullish and we have consistently and slowly made our way BACK to previous highs... this is very bullish. Volume has been constant, MACD is expanding... I do not yet see a reason to be concerned, especially when on weekly timeframe, we seem to be at the START of this bull run... check MACD.
In any event, price will soon show us what comes next. By Monday I expect us to break out of this wedge if not tomorrow.
Plus XRP has been consistently a top 3 coin on CMC, so I'd expect us to see XRP back in that position soon...
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Price has two paths as always, first one where we break above the wedge and we pump hard - this would be a very bullish move and XRP could quickly go above $1.
Or we fall off the wedge and seek support with a good target at around $0.50 cents.
My bias is bullish however, reason being that the price action has been bullish and we have consistently and slowly made our way BACK to previous highs... this is very bullish. Volume has been constant, MACD is expanding... I do not yet see a reason to be concerned, especially when on weekly timeframe, we seem to be at the START of this bull run... check MACD.
In any event, price will soon show us what comes next. By Monday I expect us to break out of this wedge if not tomorrow.
Plus XRP has been consistently a top 3 coin on CMC, so I'd expect us to see XRP back in that position soon...
Like and follow if you liked this idea. Also join my crypto community to stay in touch!
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