Here is an update from our last post:
So far XRP is still struggling to get above that upper green line of our triangle pattern. Therefore, if price cannot break above most likely price will revisit our lower green trendline for support. This could range anywhere between $2.00-$2.20.
But if price can successful breakout and flip our upper green line into a level of new support then the $2.90 level is the first breakout target.
Most likely the breakout or test of our support will be determined by what BTC decides to do in the short term. If BTC can continue to hold above $100k then XRP has a high likelihood of breaking out, but if BTC gets rejected then most likely XRP will fall to that lower trendline.
So far XRP is still struggling to get above that upper green line of our triangle pattern. Therefore, if price cannot break above most likely price will revisit our lower green trendline for support. This could range anywhere between $2.00-$2.20.
But if price can successful breakout and flip our upper green line into a level of new support then the $2.90 level is the first breakout target.
Most likely the breakout or test of our support will be determined by what BTC decides to do in the short term. If BTC can continue to hold above $100k then XRP has a high likelihood of breaking out, but if BTC gets rejected then most likely XRP will fall to that lower trendline.
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.
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.