Hey traders! Let’s dive into this monthly XRP/USDT chart. I’ll be honest — I’m skeptical about this outcome, but let’s break it down because it could actually happen!
The chart screams déjà vu, with XRP’s price action mirroring the 2014-2018 period. Back then, XRP broke out from its 2014 ATH in 2017, leading to a massive rally. Fast forward to now, and we’re seeing a similar setup, but with a twist. XRP is struggling to break through the 2018 ATH resistance zone around $3.31, which reminds me of the Breakout Consolidation phase we saw in 2017. Historically, this consolidation led to a breakout, and the chart hints at a potential repeat!
If XRP breaks out soon, we could see a parabolic move, potentially targeting much higher levels. However, the current resistance is a tough hurdle, and if it fails, we might see a pullback to lower supports.
Key Levels to Watch:
I’m not fully convinced, but the setup is intriguing — could this be XRP’s moment to shine? What do you think? Let’s discuss below!
The chart screams déjà vu, with XRP’s price action mirroring the 2014-2018 period. Back then, XRP broke out from its 2014 ATH in 2017, leading to a massive rally. Fast forward to now, and we’re seeing a similar setup, but with a twist. XRP is struggling to break through the 2018 ATH resistance zone around $3.31, which reminds me of the Breakout Consolidation phase we saw in 2017. Historically, this consolidation led to a breakout, and the chart hints at a potential repeat!
If XRP breaks out soon, we could see a parabolic move, potentially targeting much higher levels. However, the current resistance is a tough hurdle, and if it fails, we might see a pullback to lower supports.
Key Levels to Watch:
Resistance: $3.31 (2018 ATH)
Support: $1.643 (previous consolidation low)
Breakout Target: To be determined (potentially parabolic)
Breakdown Risk: $0.650
I’m not fully convinced, but the setup is intriguing — could this be XRP’s moment to shine? What do you think? Let’s discuss below!
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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.