XRPUpdated XRP H&S reversal to retest long-term resistance before moon
Right now, XRP is on the wrong-side of the ascending channel it was in for the last few weeks and meeting resistance to get back in the channel @ ~$0.2932. If we can't get a daily close above that today, we're likely to form right shoulder of H&S on our way down to retest long-term resistance that we busted through last week, probably down to ~$0.2350-$0.2400 by the time the H&S completes. Once this previous long-term resistance is confirmed as support, we will be ready for launch, just in time for SWELL!
If we get back in the channel, target is ~$0.3250 in next wave up.
Not financial advice.
If we get back in the channel, target is ~$0.3250 in next wave up.
Not financial advice.
Note
Confirmed close below ascending channel. Targets are $0.265 and $0.235
Note
First TGT reached @ $0.2650Note
Watch for BTC rebound to test 7.8k and XRP to re-test $0.28 and if they reject we'll hit second target for XRP below $0.235 (possibly that $0.19-$0.22 range) and BTC ~6.5k.Note
Technically, XRP has now back-tested it's previous long-term resistance @ $0.25 on the daily (I said was @ $0.235 in the text above because I assumed it would take a little longer to get there). So, keeping that in mind, we've officially confirmed that previous long-term resistance as support, so we don't need, from a technical standpoint, to do anything else for continuation higher.Note
Right shoulder forming
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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.