As I am sure you are all aware, XPR has been performing strongly over the past month. The market had moved higher , trending strongly for a couple of days, testing the $0.30 resistance bands on 18th October with a high of $0.31, followed by a correction down to $0.23 being completed on the 24th of October.
After this we see the clear triangle pattern with highs between +8 / +11%, please note the narrowing range before the brake out point was reached on 23rd of October -10.08%. Thus failing to form a continuation of this trend...or so we thought.
The market rallied soon after with +11.29% and helped push back up towards the moving average. With Swell just around the corner, Wednesday, 6 November - Friday, 8 November. Expect this trend to continue into next week with breakouts testing the $0.35 & $0.40 marks.
Hi, pretty cool graph! just a quick question, what's your expectation after rally up to $40? Thank you
elonwashere
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Hi @hildeharo, thank you for your feedback. Apologies for the delayed reply.
I do believe we will reach this target in the days before and leading into SWELL. As their will be a FOMO, created by all the news this week. With the Fed looking for a permanent tool that would free up cash held by larger banks and prevent funding stresses, MoneyGram partnering with Ripple, South Korean Presidential Committee Pushing to legalize Crypto Assets, and SBI Planing to use XRP for cross-border remittances from Japan to Southeast Asia. The FOMO can be seen clearly in the ACC/DIST Indicator I posted yesterday on XRP, showing an increasing number of buyers. What ever price is hit ill only be letting go of 1/16 of my supply, as I expect much more to come from Ripple in 2020 Q1 & Q4.