Hello dear crypto friends, let's have a quick update on XRP.
The bulls have reacted to the important .4 previous support on XRP/BTC, which has lead to breaking several resistances also in USD. We're now at 40 cents, and could see a follow-through up to 50 cents. This completely depends on grandpa BTC's strength -who definitely needs to consolidate soon.
If that spike on XRP/BTC doesn't see any follow-through, it will fade away, just like the previous daily one-time reactions that we have seen.
Altogether it's not a reason to break up in joy now, the weakness is aparent in Ripple -this was a must hold support for the bulls. They still need to show some follow-through or the effort was for nothing.
While Bitcoin has doubled since the break of 4k, Ripple is still far away from it's September Highs of 60 & 80 with the wicks.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
Edgy is providing online education & tools only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
The bulls have reacted to the important .4 previous support on XRP/BTC, which has lead to breaking several resistances also in USD. We're now at 40 cents, and could see a follow-through up to 50 cents. This completely depends on grandpa BTC's strength -who definitely needs to consolidate soon.
If that spike on XRP/BTC doesn't see any follow-through, it will fade away, just like the previous daily one-time reactions that we have seen.
Altogether it's not a reason to break up in joy now, the weakness is aparent in Ripple -this was a must hold support for the bulls. They still need to show some follow-through or the effort was for nothing.
While Bitcoin has doubled since the break of 4k, Ripple is still far away from it's September Highs of 60 & 80 with the wicks.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :)
Edgy is providing online education & tools only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
