XRPUSD Patience pays off if candle close above Month Resistance
Hi Everyone,
As i have got some great appreciation from you guys by liking and subscribing, I have started publishing the charts more frequently.
Thanks for all of your support. And here is a new chart
Now lets go straight into XRP analysis.
Xrp is inside a channel and Monthly Ichimoku Resistance. So there are two Resistances thats holding XRP .
We expect these resistance to be broken this month if there is a chance of continuation of this bull Run.
XRP chart is also running in a pitchfork and the reason is that it held its pitchfork nicely as its first major support and Momentum is there
which means that pitchfork will highly likely will work and if this bottom pivots hold at .12 cents there is an 80 percent chance of hitting the median line
which currently stands at around 5 dollar region.
At the same time, my analysis suggest that if we cross this major resistance level of around 2 dollar mark with strong volume and successful retest, we will be looking at
10-15 dollar XPR after breaking its median line and taking it as support as mentioned in the chart(yellow lines).
As a technical indicator, i have used MFI(Market Facilitation index), It suggest that we are not over extended yet and still under 70. In last 2017 bull Run, this index went to 90+ twice
and we expect the same in this bull cycle.
As per long term, if this bullrun enter into parabolic phase, we may anticipate 100 dollar xrp at the end of the bull cycle according to Pitchfork.
I dont create hype neither do i like to give parabolic targets, but this analysis is perfectly alligned with Monthly Pitchfork, and if Momentum Keep coming,
we may never know that this can become reality. These extended targets are mentioned in Pink rectangular region which defines the extended targets.
Realistically 10-15 dollar is a descent spot to take good profit and wait for another opportunity to appear.
On the bearish side, if it cant break Monthly ichimoku resistance this month, then its a pity for XRP and you may see price ranging between 1 dollar to 1.75.
Best of Luck,
Take care
Please like and subscribe for more analysis.
As i have got some great appreciation from you guys by liking and subscribing, I have started publishing the charts more frequently.
Thanks for all of your support. And here is a new chart
Now lets go straight into XRP analysis.
Xrp is inside a channel and Monthly Ichimoku Resistance. So there are two Resistances thats holding XRP .
We expect these resistance to be broken this month if there is a chance of continuation of this bull Run.
XRP chart is also running in a pitchfork and the reason is that it held its pitchfork nicely as its first major support and Momentum is there
which means that pitchfork will highly likely will work and if this bottom pivots hold at .12 cents there is an 80 percent chance of hitting the median line
which currently stands at around 5 dollar region.
At the same time, my analysis suggest that if we cross this major resistance level of around 2 dollar mark with strong volume and successful retest, we will be looking at
10-15 dollar XPR after breaking its median line and taking it as support as mentioned in the chart(yellow lines).
As a technical indicator, i have used MFI(Market Facilitation index), It suggest that we are not over extended yet and still under 70. In last 2017 bull Run, this index went to 90+ twice
and we expect the same in this bull cycle.
As per long term, if this bullrun enter into parabolic phase, we may anticipate 100 dollar xrp at the end of the bull cycle according to Pitchfork.
I dont create hype neither do i like to give parabolic targets, but this analysis is perfectly alligned with Monthly Pitchfork, and if Momentum Keep coming,
we may never know that this can become reality. These extended targets are mentioned in Pink rectangular region which defines the extended targets.
Realistically 10-15 dollar is a descent spot to take good profit and wait for another opportunity to appear.
On the bearish side, if it cant break Monthly ichimoku resistance this month, then its a pity for XRP and you may see price ranging between 1 dollar to 1.75.
Best of Luck,
Take care
Please like and subscribe for more analysis.
Market Still didnt break 2 dollars so why not buy at a dollar before it breaks 2 dollars