#1 - XRP has broken the resistance line coming from 2021 and seen a spike in buying power.
#2 - XRP is forming a cup and handle which I drew out 5 months back and it is still playing out. Bullish sign. This is the white dotted line.
Zoomed in view:
On the contrary the Volume profile is looking bearish, and seems like a dump is coming, however, it is using the Fib levels correctly. Take a look.
In addition, the RSI is banging out sell signals because of the highly oversold levels on the 14-day avg. So looks like exhaustion.
TLDR: Pattern wise bullish, technical wise bearish. Therefore, neutral.
#2 - XRP is forming a cup and handle which I drew out 5 months back and it is still playing out. Bullish sign. This is the white dotted line.
Zoomed in view:
On the contrary the Volume profile is looking bearish, and seems like a dump is coming, however, it is using the Fib levels correctly. Take a look.
In addition, the RSI is banging out sell signals because of the highly oversold levels on the 14-day avg. So looks like exhaustion.
TLDR: Pattern wise bullish, technical wise bearish. Therefore, neutral.
Note
We are aiming for a pullback @ $0.47 then there is the possible rallyTrade active
Retest is done. Time for longNote
Note
Trade active
Price hit the top yellow and now it's trying to use the green box as its next target.Like it says in the chart, it will try to use it as support IF it goes higher. However, as seen, it is using it as resistance right 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.