XRP has been gaining a lot of traction over the last couple of days, mainly because of bullish news concerning the lawsuit.
In my view, XRP topped in the short-term at around $0.56 and is consolidating since then. I'm looking at the triangle as a bull-flag, which is a bullish continuation pattern. With BTC trading relatively horizontal, it might actually be a decent time to make some short-term bullish bets.
Risk averse traders might want to wait for a break out of the pattern on the bullish side before going long.
In my view, XRP topped in the short-term at around $0.56 and is consolidating since then. I'm looking at the triangle as a bull-flag, which is a bullish continuation pattern. With BTC trading relatively horizontal, it might actually be a decent time to make some short-term bullish bets.
Risk averse traders might want to wait for a break out of the pattern on the bullish side before going long.
Note
Targets placed around recent tops, blue.
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🎯Official Channel: t.me/FieryTradingChannel
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
📈Try my Premium Signals for FREE - 80% Win-Rate: t.me/FT_Futures_free
✅Monster Signals: t.me/monster_cryptosignals
🔥Premium Signals: fierytrading.com
Related publications
Disclaimer
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.