Hello, Traders! Monfex is at your service and today we overview XRP/BTC.
The formation is very similar to an ascending wedge, for which the target is a breakout the support line, this is also in accordance with the strong bearish divergence by RSI. But there is also an another side where XRP is on a good bullish wave and not so far we can observe the upcoming first global zone of resistance.Also, BTC Domination is falling and we can expect growth of Altcoins in the near future.
The first resistance zone ~ 0.00004080 The second resistance zone ~ 0.00005650 The volume resistance zone ~ 0.00004900
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Disclaimer This report is for information purposes only and should not be considered a solicitation to buy or sell any trading assets. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.