Based on the bullish crossover on the MACD and what appears to be close to an ascending triangle in the making there is an opportunity for XRP to make another run up to my target of $0.38.
This also falls between the 0.5 and the 0.382 fib retracement levels which makes me feel like this is a likely scenario.
That would make this a 18-19% gain if you played a breakout of the triangle
This also falls between the 0.5 and the 0.382 fib retracement levels which makes me feel like this is a likely scenario.
That would make this a 18-19% gain if you played a breakout of the triangle
Note
We are also testing the 21EMA on the weekly and you can see that it often runs through the 55EMA once the 21EMA is broken which could coincide with a possible triangle (or pennant)Note
We clearly extended out of the triangle I projected - I've updated a new bottom trend of the triangle to match the low.The target price of the triangle is the same, however, the length of the triangle is clearly different. We also still need price to test the bottom and the top for it to work out in the way I've depicted.
Note
And the bears take over!Note
updated the image above with the latest data. the bottom line is the last earl support before falling down to 0.24ish
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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.