JANUARY 20TH! XRP UPDATE AND TECHNICAL! 🔥 Hey hey, hope everyone's doing well as always. Here we are now at the 20th with Gensler out and Trump now in office. I'll keep this idea brief since I have to leave soon for work so thanks for tuning in!
🔥 In yesterday's idea we noted that today would likely be a green and positive day which to say in the least it has been but we'll take a quick look at the technical:
🔥 In our 30 minute chart we can see XRP did end up breaking out of the descending channel we highlighted in yesterday's idea so that's been great to see and we just barely pulled up to $3.36 before that reversal started once we hit the resistance.
🔥 I decided to add a Fibonacci chart to see if that could help us identify any levels of interest which has worked out! We can see what levels do what now and use those for future reference in the next few hours, days.
🔥 Something of note I wanted to say is that in Trumps America First Priorities speech there was no mention of crypto nor Bitcoin. Investors took that with a heavy heart and we can see things how things sort of revers as the day's gone on understandably. Many we're anticipating trump to make an announcement or executive order on crypto but with that not looking to be the case we're getting this sorta buy the hype sell the news event.
🔥 Doesn't mean we're in a bad position but that's simply what looks to be driving today's market action. I've got to get ready for work but wanted to get those highlights and points of interest out for you guys, keep an eye on those levels and that 200 EMA.
🔥 Thanks for the continued support and as always, keep posted for more till next.
~ Rock '