XRP - Another Leg Tomorrow?
We are observing potential signs of an additional 10%+ move tomorrow for XRP.
After our move from the low of $0.38 to the breakout of our orange triangle and continuation of the move to $0.63, we did see XRP pull back from $0.63 to $0.54.
So far this was an excellent test as price briefly went down to $0.54 to test our blue 200 MA on the daily and instantly shot back up to $0.57. We almost printed a doji today which would've even been more of a powerful signal of another reversal, but we can still conclude that due to the test of the 200 MA as support XRP remains in a uptrend.
This could send price back to test the $0.63 level or higher. Some of the other important level could be a small stop around $0.66, but the main area of potential selling liquidity would be $0.72-$0.74. If we get above that the next level is $0.79 based on daily closes, and if we close a daily above that level then we will update this post and could see prices above $1.
After our move from the low of $0.38 to the breakout of our orange triangle and continuation of the move to $0.63, we did see XRP pull back from $0.63 to $0.54.
So far this was an excellent test as price briefly went down to $0.54 to test our blue 200 MA on the daily and instantly shot back up to $0.57. We almost printed a doji today which would've even been more of a powerful signal of another reversal, but we can still conclude that due to the test of the 200 MA as support XRP remains in a uptrend.
This could send price back to test the $0.63 level or higher. Some of the other important level could be a small stop around $0.66, but the main area of potential selling liquidity would be $0.72-$0.74. If we get above that the next level is $0.79 based on daily closes, and if we close a daily above that level then we will update this post and could see prices above $1.
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