XRP in the medium term.
From a technical point of view, XPR is in an interesting place. I will mention a few opportunities and challenges for this cryptocurrency in the medium term.
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- XRP has been in the relegation channel since 2018. It is a typical relegation flag, which in most cases is broken upwards and reaches at least 40% ATH (average)
- after the recent declines on the XRP market there was a very large volume (mostly buyers) (no large sales transactions = players hold positions in XRP).
- XRP has hit the lower limit of the red line which may mean that the bottom has been reached or tested.
- recently, after breaking the $ 0.2 level, we are in the bullish flag, which is characterized by a breakout.
- Chance XRP is moving in the growth channel from the last bottom.
"-" threats
- XRP from 2018, every time it touches the upper limit of the red curved line, it bounces and falls (strong infuse)
- the growth of XRP depends on what is happening on BTC and ETH, which will make it susceptible to the movements of each of them.
- strong resistance around $ 0.3 is a combination of pre-2018 resistance and support on the resistance curve that XRP has always bounced from so far.
- the chance for further drops to around $ 0.07 is still possible because the first pre-altcoin XRP peak is here.
Growth on XRP is very possible and if it does, it will be possible to see very large increases. However, it will happen if several conditions are met, such as: breaking the strong resistance at the $ 0.3 point of the red curve printed from 2018. After defeating it, possible increases of up to several dollars for XRP.
"You have to react, not predict and" I think so "
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