XRP is not ready yet! Cup & Handle
Updated
Hey there,
the recent performance of XRPUSD is impressive! Nonetheless, we're seeing sell-signals that suggest a correction before the continuation of the upwards movement.
From a charting perspective, we can observe a Cup & Handle pattern, which is almost self explanatory. The horizontal resistance builds the ceiling of this formation. We can expect a correction toward the 0.63 USDT level, followed by a breakout from the ceiling (0.72 USDT) and a surge to the important 1 USDT mark.
Any news from high relevancy can make this chart obsolete. Especially when it comes to Ripple vs. SEC case. Just make sure to not buy at this peak levels. XRP is not ready yet!
the recent performance of XRPUSD is impressive! Nonetheless, we're seeing sell-signals that suggest a correction before the continuation of the upwards movement.
- The RSI is strongly overbought
- The MFI is strongly overbought
- The price is sitting below a strong horizontal resistance
From a charting perspective, we can observe a Cup & Handle pattern, which is almost self explanatory. The horizontal resistance builds the ceiling of this formation. We can expect a correction toward the 0.63 USDT level, followed by a breakout from the ceiling (0.72 USDT) and a surge to the important 1 USDT mark.
Any news from high relevancy can make this chart obsolete. Especially when it comes to Ripple vs. SEC case. Just make sure to not buy at this peak levels. XRP is not ready yet!
Comment
4HTrade active
Long @0.64Comment
still activeComment
Handle in the making
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