XRP - Daily chart setup
Hi everyone,
After a bunch of GME analyses time for something else, I will keep an eye on GME and post when something new appears.
XRP is my major holding but I will provide an as fair as possible and unbiased analysis for this coin.
I didn't like the pump telegram group action around it however after the pump and the expected dump we can see the following:
Support zones: after the dump the price touched the previous very important support zones and price held this very nicely.
The 30 cent zone are has always been a very difficult resistance zone & acted as a support zone in the last weeks.
Resistance zone: the 40 ish & 60 cent zones are acting currently as resistances but price is looking to break it. The Elliot wave is supporting this idea but we have to see how it plays out.
Normally Elliot wave are confirmed when Wave 3 has played out, Wave 4 & 5 are thus followed soon after but:
- XRP is very volatile
- SEC news is still luring around
The next days will be crucial and maybe we see a weekly candle close around 40 cents to confirm further bullish movement.
XRPUSD
After a bunch of GME analyses time for something else, I will keep an eye on GME and post when something new appears.
XRP is my major holding but I will provide an as fair as possible and unbiased analysis for this coin.
I didn't like the pump telegram group action around it however after the pump and the expected dump we can see the following:
Support zones: after the dump the price touched the previous very important support zones and price held this very nicely.
The 30 cent zone are has always been a very difficult resistance zone & acted as a support zone in the last weeks.
Resistance zone: the 40 ish & 60 cent zones are acting currently as resistances but price is looking to break it. The Elliot wave is supporting this idea but we have to see how it plays out.
Normally Elliot wave are confirmed when Wave 3 has played out, Wave 4 & 5 are thus followed soon after but:
- XRP is very volatile
- SEC news is still luring around
The next days will be crucial and maybe we see a weekly candle close around 40 cents to confirm further bullish movement.
XRPUSD
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