XRP - 6h. Buyers plan to test $0.78
Updated
The long-suffering triangle that has been forming in the XRP market for 2 months may end its existence. The fact is that today buyers managed to break through the upper trend line of the triangle, which is a good signal for the continuation of the XRPUSDT price growth with the first target of $0.64
Trading volumes in the breakout of the upward triangle trend line were increased. However, if you look at the 12 hour timeframe, the trading volumes on the triangle breakout are quite small:
It is quite possible that this is a false breakout of the triangle and the price may return to its limits. Therefore, now we want to wait for the correction after the completion of the real local growth impulse.
If buyers keep $0.53, it will be a good signal of buying strength and price growth to $0.78. The loss of the mark of $0.48 by buyers will quickly help sellers lower the price to $0.42. Therefore, in this situation, we do not plan to rush. However, you need to keep a close eye on XRP.
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We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!
Trading volumes in the breakout of the upward triangle trend line were increased. However, if you look at the 12 hour timeframe, the trading volumes on the triangle breakout are quite small:
It is quite possible that this is a false breakout of the triangle and the price may return to its limits. Therefore, now we want to wait for the correction after the completion of the real local growth impulse.
If buyers keep $0.53, it will be a good signal of buying strength and price growth to $0.78. The loss of the mark of $0.48 by buyers will quickly help sellers lower the price to $0.42. Therefore, in this situation, we do not plan to rush. However, you need to keep a close eye on XRP.
________________________________
We create both short-term ideas (for a local understanding of the market situation) and medium-term forecasts of price movements.
Subscribe to us and get daily concise analytics!
Trade closed: target reached
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🔥V-I-P cutt.ly/PwkLhT56
👍Daily bitcoin reviews here💲 cutt.ly/3wnaaG4s
🔵Telegram t.me/pstrade_eng
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