currently xrp has spent 9 weeks deciding whether to go ahead with the break out to the upside
or to go back and test the bottom of the channel (its a long way down)
xrp has never spent 9 weeks in the overthrow channel
a diamond shape of decision exists between the channel top, the overthrow top and two support/resistance levels at .23 & .30
it looks like xrp really wants to go up
likely xrp is going to make another run at the .30 resistance soon
it probably needs to break through .30 in the next 4 to 5 weeks
or to go back and test the bottom of the channel (its a long way down)
xrp has never spent 9 weeks in the overthrow channel
a diamond shape of decision exists between the channel top, the overthrow top and two support/resistance levels at .23 & .30
it looks like xrp really wants to go up
likely xrp is going to make another run at the .30 resistance soon
it probably needs to break through .30 in the next 4 to 5 weeks
Note
16 weeks holding in the overthrow channel& in the red channel .23 - .30
Note
decision madeup we go
Note
tehnically back testing the breakout
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Related publications
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.