IM BULLISH LONG TERM, BUT THE PULLBACK FROM $2.60 IS VERY LIKELY DONT BUY WITH DONT BREAK THIS RESISTANCE LINE.
MAJOR PLAYERS CAN STILL TAKE PROFIT HERE AND THEN SELL-OFF TILL WE BETTER CLARITY FROM THE SEC REGARDING THE ETF APPROVALS.
In this Idea I focus on the XRP thats currently at major resistance around $2.60 to $2.70.
If this resistance levels break and holds support above $2.60. I believe we wont see the pullback.
If we dont close above this Resistance this week will have a pullback to $2.30 and even lower.
Next week will be a busy week for XRP as we might have more feedback from the SEC regarding the ETF approvals for XRP. If this fundamental aspect get clear guidance from the SEC this pair will surge to all time highs.
I would suggest not to buy now unless we have a good break above the $2.60 level.
MAJOR PLAYERS CAN STILL TAKE PROFIT HERE AND THEN SELL-OFF TILL WE BETTER CLARITY FROM THE SEC REGARDING THE ETF APPROVALS.
In this Idea I focus on the XRP thats currently at major resistance around $2.60 to $2.70.
If this resistance levels break and holds support above $2.60. I believe we wont see the pullback.
If we dont close above this Resistance this week will have a pullback to $2.30 and even lower.
Next week will be a busy week for XRP as we might have more feedback from the SEC regarding the ETF approvals for XRP. If this fundamental aspect get clear guidance from the SEC this pair will surge to all time highs.
I would suggest not to buy now unless we have a good break above the $2.60 level.
Trade active
As from LAst week to date, we did not make any major upward move yet. The $2.60 resistance us still a main player, and the $2.30 Support also holds well so far.
I still believe that a bigger pullback is likely early next week.
Note
IF TODAY CLOSES ABOVE $2.60 IT WILL INVALEDATE MY PULLBACK.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.