If you've been following the Crypto space recently for the last few months you would have seen $BTC lose it dominnace to 45% and $ETH leading the charge for ATL season as you witness many ATL coins such as $EOS, $ETC, $DOGE, $Link and many more having a strong bullish run. One of the most anticipated Coins predicted to revisit ATH is $XRP however, we have been consolidating around the $1.6 price level on the Daily chart for some while now. With the on-going feud with Ripple and the SEC behind the chart let see how we look technically for next week.
TA - I have identified a few resistance barriers on the daily timeframe which indicates to me why price is failing to break out upwards, as for now!
On the Fib Extension 0.50% level you could see price testing and failing to close above it numerous of time. I've also identified a resistance trend line that XRP is currently testing which aligns with the 0.50% resistance at price level $1.67. A Candle close above that will indicate a double breakout and may lead to a much anticipated bullish run for XRP however, we have to put into considertation if price continues to fail to breakout upwards we may dropped back $1.4 where the nearest support level may be found!
TA - I have identified a few resistance barriers on the daily timeframe which indicates to me why price is failing to break out upwards, as for now!
On the Fib Extension 0.50% level you could see price testing and failing to close above it numerous of time. I've also identified a resistance trend line that XRP is currently testing which aligns with the 0.50% resistance at price level $1.67. A Candle close above that will indicate a double breakout and may lead to a much anticipated bullish run for XRP however, we have to put into considertation if price continues to fail to breakout upwards we may dropped back $1.4 where the nearest support level may be found!
