So I'm a longtime hodler of XRP so right off the bat you can consider my opinion biased. However, with that being said I am usually biased towards the downside because I never sell and then I wish I had and I am a negative nancy by default. But alas, I actually think we should be breaking to the upside. So just a real quick run down of my thoughts that should not be construed as trading advice because everyone writes that so I guess I should as well...............Blue horizontal support line (Support S1) around .86 cents just so happens to coincide with .786 Fib line. We are currently sitting right on top of that ~.90 cents. Red line (R1) that has multiple consolidation phases on it and also happens to coincide with .618 Fib Line looks to be first real resistance level and depending on how fast we get there time frame wise I think will determine what price we can look for but I am anticipating around $1.40 and quite soon within the next day or two due to the fact that we have formed a triangle from blue support and from black line which is diagonal line from a fib pulled off the ATH.......Looks like we are approaching a break out and I feel like the path of least resistance is to the upside. If it does break to upside I think green arrow it could go big or we could be trading sideways for a while to come. Either scenario is to the upside and both are substantial. Add the fact that we have endured a downtrend for a while not ONLY in XRP but in all Crypto assests and are slowly approaching the same time frame last year where prices really started to appreciate. Add that with all the good news built up over the last couple of months that Ripple as a company and XRP have had that has not reflected in price which makes me lean to upside. Please like, message, and follow so I can get enough points to start chatting:) and I'd love to get feedback on other peoples opinions.
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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.