In our last XRP analysis, we had a sell set up from the 0.78 level where we indicated that price may break and retest that level before moving lower. Price did exactly as we anticipated and it dropped over 30%!
Now we are approaching the support of the parallel channel where we may see a bounce.
We have 3 key areas we are looking at.
Descending Trendline We have a descending trendline in place where we can monitor for a break. Once broken, we can look for bull flags to take XRP higher.
Parallel Channel Support Another area we are looking at is the parallel channel support where price previously bounced off twice. We can look for a third touch of that channel support to take XRP back up.
Double Bottom We also have a lower timeframe structure we can monitor for a double bottom. Price bounced off the 0.52 level and we can see how price reacts to that level again. If we get buying pressure from that level, we can enter with stops below 0.52.
@Altsignals, Most of them fake with a 1 comment! Look at to the 1-2 stars your signals are bad this is the FACT!
Altsignals
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@buyuksir, most of them 5 stars, matter of opinion if you think they are bad, enjoy your life
buyuksir
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@Altsignals, Below comment just only 1 of from trustpiot! You are not trader you are a gambler sending signal with 25 to 75X lol,
He opened lots of long cross positions at the bearish dip of 19 may with x30 leverage at the same time. If I had use 2% of my wallet for each trade as recomended with those very big stop loss they would have let my account to zero... Can't believe that risk management...
buyuksir
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@Altsignals, Ahaaa you are very gentle and calling me "Sir" you should be always gentle dude!