XRP/BTC - Ripple Approaching To The Main Resistance Level
Yesterday we have a nice jump and a price increase of around 5%. Today we're in the retracement and so far everything looks good. But as always we have to watch BTC. Any sudden move of BTC may have an impact on almost all alts.
So let's jump into the chart.
XRP now approaching to the main resistance line which had significant role in the past. Besides this, exactly at this resistance line we have 200 Moving Average. This is around 4000 sats and if XRP would be able to break this price level the price will continue to rise to the first midterm target which you can find on the chart.
Personally I'm expecting some sort of pullback at this price level and from this pullback, it will depend on the further development of the price action. Once we will hit this level I will update you.
SHORT TERM DEVELOPMENT:
Yesterday we have a breakout of the rising wedge to the upside. This is a significant sign and gives XRP more power to grow. But here is a "but". We need to stay above the upper trend line of this pattern, otherwise, the price can drop to the lower line of this pattern. So we have to be very careful in the current situation.
Today we can notice successful testing of this trend line which is at the moment of writing at around 3640 sats.
Be safe and don't forget to put a stop loss.
if you find this idea interesting thank you for all of your likes in advance :-)
So let's jump into the chart.
XRP now approaching to the main resistance line which had significant role in the past. Besides this, exactly at this resistance line we have 200 Moving Average. This is around 4000 sats and if XRP would be able to break this price level the price will continue to rise to the first midterm target which you can find on the chart.
Personally I'm expecting some sort of pullback at this price level and from this pullback, it will depend on the further development of the price action. Once we will hit this level I will update you.
SHORT TERM DEVELOPMENT:
Yesterday we have a breakout of the rising wedge to the upside. This is a significant sign and gives XRP more power to grow. But here is a "but". We need to stay above the upper trend line of this pattern, otherwise, the price can drop to the lower line of this pattern. So we have to be very careful in the current situation.
Today we can notice successful testing of this trend line which is at the moment of writing at around 3640 sats.
Be safe and don't forget to put a stop loss.
if you find this idea interesting thank you for all of your likes in advance :-)
Commento:
Commento:
So far we have 5 touches. Let’s see if it hold
