Long

XRP next potential move to $4.00 !

Between now to 17 March - Potential scenario's for XRP

Bearish scenario's

3D RSI need to break 55 . If reject at around 55 or lower, it will go downtrend to 28 or below. Look for signs if crossing the SMA yellow line for bullish move.
MACD on 3D showing hope for uptrend but lets see if it breaks above by 17th Mar.
Full Moon indicator printed today, usually marks the downtrend scenario to begin today till 29
March before a new moon begin
* A potential rejection can happen at $2.48 or $2.60. If breaks above and stays there, then good.
* Ascending broadening pattern is generally bearish and it's a sign that it's nearing a significant resistance level it indicates an upward momentum is weakening and a potential breakdown can happen

Bullish scenarios

Daily candle looks good now but may be short-lived beyond the 17th Mar. So watch the movement towards this date
3D candle have been bearish since 22 Jan. 2nd half of March need to show upward strength
Candle bounced at 50 MA and showed signs of upward trend.
This ascending broadening wedge is quite unique in my opinion. It also shows the market is quite undecided about which direction to go and waiting for a violent move. But if you notice the trajectory, the likelihood is more is towards uptrend.
It needs to break the $2.48 and $2.60 with a volume for the pump to arrive at a new ATH of $4.00
Beyond $4.00 is the new price discovery zone and it's anyone's guess where it will go next. Perhaps back to $1.00 😅 for a cooling down retracement?

Next Likelihood Potential Move
↗️Bullish: 60%🟢
↘️Bearish: 40%🔴

PeeJay777

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.

PeeJay777