XRP - Long term logarithmic support and 200-weekly bar
Greetings All,
I've been following XRPUSD for a while now and as you can see, it hasn't been performing the greatest over the past couple years. The down-trend is obvious and really taking it's toll on its supporters.
Looking at the graph, I think XRP is about to find some long-term support at the 200-weekly candle coming up
It's finding some previous support on the logarithmic line where it found support back in early 2017 which started the bull-run.
Later it found support at the 25%, pushed and consolidated at the 50%, and continued upwards.
I expect XRPUSD to continue to find support at the bottom of this blue-zone and bounce off just as it did in 2017.
XRPBTC is also beginning to turn-around from a long-term downtrend and I personally believe its an indication of an alt-rally which will drive both BTC and Alts to new highs.
Robinhood, Coinbase, and other platforms now have more users, they're easier to onboard, and once this market gets interesting again I think it'll flood with consumer interest.
Thanks for looking at my chart, i'm not a professional, nor is this financial advice. This is my personal opinion and I wanted to share to see if others had a similar thought in mind.
Best of luck to all, unless you're short. ;)
I've been following XRPUSD for a while now and as you can see, it hasn't been performing the greatest over the past couple years. The down-trend is obvious and really taking it's toll on its supporters.
Looking at the graph, I think XRP is about to find some long-term support at the 200-weekly candle coming up
It's finding some previous support on the logarithmic line where it found support back in early 2017 which started the bull-run.
Later it found support at the 25%, pushed and consolidated at the 50%, and continued upwards.
I expect XRPUSD to continue to find support at the bottom of this blue-zone and bounce off just as it did in 2017.
XRPBTC is also beginning to turn-around from a long-term downtrend and I personally believe its an indication of an alt-rally which will drive both BTC and Alts to new highs.
Robinhood, Coinbase, and other platforms now have more users, they're easier to onboard, and once this market gets interesting again I think it'll flood with consumer interest.
Thanks for looking at my chart, i'm not a professional, nor is this financial advice. This is my personal opinion and I wanted to share to see if others had a similar thought in mind.
Best of luck to all, unless you're short. ;)
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