XRP Struggles at Resistance
XRP touched the upper band of the falling channel and received the first rejection here. It was rejected from the same area before (red circles).
🔹 The price is now around $2.21 and very close to the resistance of the falling trend.
🔹 The RSI side is trying to stay above the 60 level. This means that the momentum is still positive, but it is also close to the overshooting zone.
🔹 The range of $1.96 - $2.00 is now critical support. If it is broken, there may be a possibility of retracement to the $1.50s again.
🔹 For the continuation of the rise, it is imperative to throw this red falling trend with a net close. Otherwise, the possibility of rejection from this area and return to the horizontal band increases.
The blue horizontal line is important; If the daily closing candle comes on it, it will break the downtrend. This is also the ceiling zone of the falling trend channel.
If the breakout comes, a rapid rally begins, otherwise a correction is on the agenda again.
XRP touched the upper band of the falling channel and received the first rejection here. It was rejected from the same area before (red circles).
🔹 The price is now around $2.21 and very close to the resistance of the falling trend.
🔹 The RSI side is trying to stay above the 60 level. This means that the momentum is still positive, but it is also close to the overshooting zone.
🔹 The range of $1.96 - $2.00 is now critical support. If it is broken, there may be a possibility of retracement to the $1.50s again.
🔹 For the continuation of the rise, it is imperative to throw this red falling trend with a net close. Otherwise, the possibility of rejection from this area and return to the horizontal band increases.
The blue horizontal line is important; If the daily closing candle comes on it, it will break the downtrend. This is also the ceiling zone of the falling trend channel.
If the breakout comes, a rapid rally begins, otherwise a correction is on the agenda again.
For more you can follow me on X. @UgurTash
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.
For more you can follow me on X. @UgurTash
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.