XRPUSD
In recent weeks we have seen the XRP literally pulverizing its resistances and in particular, this $0.30 barrier. Without really stopping at $0.50, we have come close to $0.80. The market finally failed on the $0.60 weekly resistance.
We are now on a very important level: the weekly support of $0.50. Contrary to past attempts to break out, the price is strongly supported by unprecedented volatility. Despite the current weekly candlestick showing a relaxation of upward pressure, selling this market would be for me an idea close to suicide. Going down to lower timeframes, you can see that the $0.4850 - $0.50 level is well defended with quite a bit of volatility.
What's next?
For me, and this is only my opinion, the XRP will soon go for the $1.40. First of all, volatility does not lie, this time the price is supported by whales. Secondly, we are technically on a really interesting support, which could lead to a new phase of accumulation. Finally, because I see a lot of people talking about shit coin and wanting to sell it at all costs or simply gloating to denigrate it, without even understanding the ins and outs.
If we have a weekly candle closing below the 0.47$ support, we'll end up at $0.38, next weekly support. If we close above 0.95$, it's a free ticket to reach 2.75$.
Trade safe,
AT
We are now on a very important level: the weekly support of $0.50. Contrary to past attempts to break out, the price is strongly supported by unprecedented volatility. Despite the current weekly candlestick showing a relaxation of upward pressure, selling this market would be for me an idea close to suicide. Going down to lower timeframes, you can see that the $0.4850 - $0.50 level is well defended with quite a bit of volatility.
What's next?
For me, and this is only my opinion, the XRP will soon go for the $1.40. First of all, volatility does not lie, this time the price is supported by whales. Secondly, we are technically on a really interesting support, which could lead to a new phase of accumulation. Finally, because I see a lot of people talking about shit coin and wanting to sell it at all costs or simply gloating to denigrate it, without even understanding the ins and outs.
If we have a weekly candle closing below the 0.47$ support, we'll end up at $0.38, next weekly support. If we close above 0.95$, it's a free ticket to reach 2.75$.
Trade safe,
AT
Penafian
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