XRPUSD *Potential* Longs 📈
*Technical Analysis*
XRPUSD has broken out of a descending trend line with strong momentum. However, before we get exited we need to consider the fact that 0.50 is a crucial region of resistance for this pair and for that reason I do require a weekly candle closure above 0.50 to consider my upside targets of 0.60 and 0.70.
My favourable & alternate outcome for this pair is for XRP to close below 0.50 and retest our trend line and support region of 0.35 followed by an upside push to 0.70
*Fundemental Analysis*
There has been a telegram group of about +80K members that have the agenda to pump XRP on the 1st of February, should this be a reality I do expect institutional capital to retaliate and possibly stop people out by pushing XRP to a downside region of 0.25-0.30 making this overall move a pump and dump.
XRPUSD has broken out of a descending trend line with strong momentum. However, before we get exited we need to consider the fact that 0.50 is a crucial region of resistance for this pair and for that reason I do require a weekly candle closure above 0.50 to consider my upside targets of 0.60 and 0.70.
My favourable & alternate outcome for this pair is for XRP to close below 0.50 and retest our trend line and support region of 0.35 followed by an upside push to 0.70
*Fundemental Analysis*
There has been a telegram group of about +80K members that have the agenda to pump XRP on the 1st of February, should this be a reality I do expect institutional capital to retaliate and possibly stop people out by pushing XRP to a downside region of 0.25-0.30 making this overall move a pump and dump.
Dagangan ditutup: sasaran tercapai
Not the retest we wanted but definitely the targets achieved.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.