botje11

XRP Ripple, Triangle and Range support/resistance

BITFINEX:XRPUSD   XRP / U.S. Dollar
The 0.36 and 0.4 range is still in play and has been for a while now. The highs however, have been getting lower the past week which normally is a bearish sign. It looks like we have formed a channel on the left now, this one could give us an answer for what will happen for the mid-term. Even if the channel breaks, the purple zone seems to be resistance as well. On the right we can also see some trend lines , also important to watch if we do go up.

On the downside, we have that green support zone that is still working so far. A break of the 0.34, will probably mean the bear trend will resume again. It's similar to the 3600/3550 level of Bitcoin". When we look at the XRP/BTC pair, we can see it broke support of that big wedge , but so far no real drop or volume . So it could still be noise.


Previous analysis:
Comment: Got rejection from from the triangle resistance but we have to stay above the purple zone from now on. Ideally it stays inside a bull flag.
It's still falling behind compared to other alts, so it has to catch up. As i mentioned in my BTC analysis, i want to see this one make a push above that 0.4, to think the second stage of the upwards correction has started.

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XRP is having a rough time :/
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