XRP → Resistance retest before correction for BINANCE:XRPUSDT by RLinda

XRP → Resistance retest before correction

over yesterday evening bought back the previously formed fall, but faced strong resistance, which delimits the descending channel. A correction could possibly form...

After a strong rise (on D1) XRP is going into a correction, the remarkable thing is that the correction is within a descending channel, or flag, the essence of which is the continuation of the trend. Let me remind you that the global trend is bullish.
Technically, on the local , a false resistance breakout and correction may be formed, for example, to 3K or 0.5 fibo before the market starts to form the potential for a breakout of the channel resistance in order to continue the growth.

Support levels: 3000, 0.5 fibo (2.900)
Resistance levels: 3.144, 3.2

The liquidity formed in the zone 3.14 - 3.2 may not let the coin up the first time. In the short term, I expect a false breakout and correction to the targets indicated on the chart.

Regards R. Linda!

Note

The scenario may not work because of this:
Garlinghouse confirms he has held talks with Trump about making XRP a US strategic reserve asset

Trade active

After a strong growth, XRP had no potential to continue it. A false resistance breakout is formed and the coin starts its downward movement

Trade closed: target reached

RLinda

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