XRP - Weekly Recap
Hello traders,
Here's a side by side daily and weekly time-frame on XRPUSD.
On the weekly time-frame, as you can see after 5/6 weeks of trying to break above the 0.282 resistance level, it finally did it. This looks extremely bullish and if the momentum maintains, we could see 0.32-0.328, which would be our first target to the upside as it also appears to be a good psychological level for XRP to go ahead and re-test it.
If we extend and break this level too 0.36 would be the second upside target as it correlates with the descending trend-line, however is still pretty early for this, we'll update the chart once we start getting there.
On the other hand, combining this with the daily time-frame where as you can see we have a perfect re-test of the weekly resistance upon breakout it further confirms that a upside movement to the already mentioned targets is highly possible.
We could be seeing price movements anywhere between .30 cents and .28 on the daily time-frame, a break above the .30 daily resistance would trigger the price to further pursue the .32 -.328 targets. If by some chance bears take control and we fall below .28 cents, we could extend anywhere from .27 to .25 cents, However this downside movement looks very unlikely as of right now
Here's a side by side daily and weekly time-frame on XRPUSD.
On the weekly time-frame, as you can see after 5/6 weeks of trying to break above the 0.282 resistance level, it finally did it. This looks extremely bullish and if the momentum maintains, we could see 0.32-0.328, which would be our first target to the upside as it also appears to be a good psychological level for XRP to go ahead and re-test it.
If we extend and break this level too 0.36 would be the second upside target as it correlates with the descending trend-line, however is still pretty early for this, we'll update the chart once we start getting there.
On the other hand, combining this with the daily time-frame where as you can see we have a perfect re-test of the weekly resistance upon breakout it further confirms that a upside movement to the already mentioned targets is highly possible.
We could be seeing price movements anywhere between .30 cents and .28 on the daily time-frame, a break above the .30 daily resistance would trigger the price to further pursue the .32 -.328 targets. If by some chance bears take control and we fall below .28 cents, we could extend anywhere from .27 to .25 cents, However this downside movement looks very unlikely as of right now
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