XRP - Bump and Run - New Highs Coming
Updated
XRP looks to be on the verge of breaking out to the upside with a Bump and Run type chart.
We have broken out of a bearish trend, retested, and are continuing upward at this moment.
There is expected resistance on a monthly time frame around the $0.84 USD level. But I believe it will reach that area rather quickly over. From my experience with XRP it moves quickly and with high volatility. Sometimes getting these 20-35% moves in a singular day. But retraces quite strong.
The idea here is the longer time frames and daily time frame confluence. Ripple has won the status of XRP being a non security, we saw it rally to $0.95 that exact day; Then retracing the entire move. XRP dominance is beginning to bounce, and BTC & ETH have run. Alts are starting to reprice, and XRP will follow.
XRP/BTC is in a demand zone, XRP/ETH is in a demand zone. XRP/USD is breaking upward.
If I were to put a timeline on this move to 0.84 for some heavy resistance it would be in the next 3-4 weeks.
We have broken out of a bearish trend, retested, and are continuing upward at this moment.
There is expected resistance on a monthly time frame around the $0.84 USD level. But I believe it will reach that area rather quickly over. From my experience with XRP it moves quickly and with high volatility. Sometimes getting these 20-35% moves in a singular day. But retraces quite strong.
The idea here is the longer time frames and daily time frame confluence. Ripple has won the status of XRP being a non security, we saw it rally to $0.95 that exact day; Then retracing the entire move. XRP dominance is beginning to bounce, and BTC & ETH have run. Alts are starting to reprice, and XRP will follow.
XRP/BTC is in a demand zone, XRP/ETH is in a demand zone. XRP/USD is breaking upward.
If I were to put a timeline on this move to 0.84 for some heavy resistance it would be in the next 3-4 weeks.
Note
XRP now up nearly 5% today. Bump and Run is still in play. BTC ripping up, a lot of alts actually bled out from this move, and I believe we see XRP as one of the only majors rally pretty heavily. Targets are still proper and in play.
Note
XRP showing more strength.Note
It is now breaking out, trade still in play.
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