XRP infront of big hurdle
After XRP breaking out from the bullish pennant and the retest of the symmetrical triangle line XRP is looking for a breakout of the 50 cents, which has represented itself as a huge hurdle. I have charted a five wave Elliot structure that projects the price to end up somewhere in the 80 cent range in the following weeks. If XRP surpasses 50 cents, things should gain sufficient volume and as such higher volatility. If we, however, cannot surpass the 50 cent levels in the next 2 or 3 days its likely that XRP will revisit the 30 cents.
Note
seems to be retesting support of the fib level, hopefully, leading to higher pricesNote
bullish hammer candle developingTrade closed: target reached
trendline held, need to see if it builds a bear flag now, cant make predictionsNote
Held at fib level, but seems to be making another bear flag. I would advise staying out of the market for now. Eager ones can risk an entry point now.
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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.