XRP going to the $2.20s??
- A 4-hour SIBI FVG has been established between $2.59–$2.56, which could be a strong resistance to keep prices from climbing. There is also a 1-hour SIBI within that area which gives me more of an indication for resistance.
- If the 2.20s range is to be reached, the first price point to monitor would be $2.4873. If price does not hold and falls below, that liquidity is taken. We will retrace slightly up and then look for the next price, which is $2.4695.
- If there is no support at that price point, the next price of interest will be at $2.4194. At this point, if the liquidity is swept, due to the liquidity void below, $2.28 is very possible.
- Going back to the last big liquidity sweep which was yesterday, price dropped about 2%. A sweep at $2.41 could have a similar effect. Although to reach my estimated price, it would need to be about a 3% drop.
- Over-Projecting: The chart gives me a decent probability of reaching $2.28, but even if it does, I think I will be holding on buying. My true target is the sub-2.20s and maybe the low 2.00s range. However, we may never see that price again.
- What are you seeing?
- If the 2.20s range is to be reached, the first price point to monitor would be $2.4873. If price does not hold and falls below, that liquidity is taken. We will retrace slightly up and then look for the next price, which is $2.4695.
- If there is no support at that price point, the next price of interest will be at $2.4194. At this point, if the liquidity is swept, due to the liquidity void below, $2.28 is very possible.
- Going back to the last big liquidity sweep which was yesterday, price dropped about 2%. A sweep at $2.41 could have a similar effect. Although to reach my estimated price, it would need to be about a 3% drop.
- Over-Projecting: The chart gives me a decent probability of reaching $2.28, but even if it does, I think I will be holding on buying. My true target is the sub-2.20s and maybe the low 2.00s range. However, we may never see that price again.
- What are you seeing?
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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.