I see a very good setup here on XRP. Even though Ripple is undergoing a lawsuit at the moment, I think we could see this thing run above $1.23, but we have to be wary of the downside as well because nothing is ever guaranteed. We have seen many cheap, penny altcoins ripping over the last week, so hopefully we will be seeing some of the bigger names start to run soon when the "meme" hype starts dying down.
After the XRP 300% rip in April, we saw an almost 100% retrace, and is now hovering below the 50% retracement level.
We can also see the MACD looking at very neutral level and almost crossing over signalling a BULLISH move.
WEEKLY CHART: a beautiful cup and handle setup looks to be setting up to send XRP over to ATH levels.
TARGETS:
$1.35 is the first target
$1.7 is the second target
$2 which is the high from the rip in April
then ATH at $3
REMEMBER, this is not a sure thing and it can easily break down below the lower trendline. SO wait for confirmation
After the XRP 300% rip in April, we saw an almost 100% retrace, and is now hovering below the 50% retracement level.
We can also see the MACD looking at very neutral level and almost crossing over signalling a BULLISH move.
WEEKLY CHART: a beautiful cup and handle setup looks to be setting up to send XRP over to ATH levels.
TARGETS:
$1.35 is the first target
$1.7 is the second target
$2 which is the high from the rip in April
then ATH at $3
REMEMBER, this is not a sure thing and it can easily break down below the lower trendline. SO wait for confirmation