XRP is trying to find its range. A possible head and shoulders appeared in the ascending triangle, but it's hard to tell. 200 MA isn't playing the break and had a resistance rejection. If this is a head and shoulders, I believe there will be one more pump before a reversal. If not, it will break the ascending triangle to find new highs and lows. From a fundamental point of view, XRP is likely unstable because of its upcoming appeal, making traders skeptical of its short future. At this point, if you are serious about XRP, look at XRP as a long-term investor. Bitwise filed XRP ETF. (INVESTOR NEWS) - tradingview.com/news/u_today:f3d1be420094b:0-it-s-official-first-xrp-etf-filing-lands-on-sec-s-desk/
Note
XRP took a nose dive from the head and shoulder pattern. 200MA is no longer playing the break. XRP is now in low-price discovery. I will be looking for a price bounce through out the month.Support - 0.50
Resistance - 0.65
Momentum - Low - Neutral
Volume strength - Sell
Fear & Greed Index - Greed (73)
Fundamental analysis—XRP has a lot going on with the SEC following its court appeal and Bitwise filing an XRP ETF. Ripple also launched its payment system in Brazil with Mercado Bitcoin to use its tech first. Despite the bad news with the SEC appeal, Ripple is still vigorously working to set itself up long-term.
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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.