Will Ripple(XRP) Die?
Hello, dear subscribers!
Today we will try to understand what is the next move for the XRPUSDT. It is broadly known, that the Ripple has very negative fundamental analysis according to the last news. The price immediately reacted with a huge dump.
On the right chart we can see two global support lines. The price have already broken down the support 1 level but not confidently. We should be ready of the potential decrease to the the support 2 level ($0.16).
Let's consider the short term analysis. We applied the weekly CPR lines and have the strong evidences that these levels are important. The price bounced of this levels before broke them down. Now the price bounced off the R3 CPR level and start consolidation. If it brake the $0.22 level down the drop to the $0.16 is possible. If the price grow above the CRP R2 level it can be the evidence of the reverse from the downtrend to the uptrend.
Globally, now it is great time for the the long position execution. The price is closed to the last 2 years minimum, but the XRPUSDT looks very bullish because the global downtrend was changed by the uptrend and just negative news, we hope temporary, brought down the price.
Today we will try to understand what is the next move for the XRPUSDT. It is broadly known, that the Ripple has very negative fundamental analysis according to the last news. The price immediately reacted with a huge dump.
On the right chart we can see two global support lines. The price have already broken down the support 1 level but not confidently. We should be ready of the potential decrease to the the support 2 level ($0.16).
Let's consider the short term analysis. We applied the weekly CPR lines and have the strong evidences that these levels are important. The price bounced of this levels before broke them down. Now the price bounced off the R3 CPR level and start consolidation. If it brake the $0.22 level down the drop to the $0.16 is possible. If the price grow above the CRP R2 level it can be the evidence of the reverse from the downtrend to the uptrend.
Globally, now it is great time for the the long position execution. The price is closed to the last 2 years minimum, but the XRPUSDT looks very bullish because the global downtrend was changed by the uptrend and just negative news, we hope temporary, brought down the price.
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