It still went up like 20% but it has been dumped just as fast again this week.
However, it did break up from that triangle and it went above that thick black resistance line as well. There was a increase, but not even close to a real breakout . Assuming Bitcoin' will make another rally soon, there is a chance that XRP' might play catch up, if it's able to make a successful pullback from the breakout 2 weeks ago. So far it looks good.
When zooming in on the right, it looks like it might be making a pattern now. It made a nice bounce up to 0.34 with a sideways market and now back down again. This is usually a sign for a . For the time frame, the low of the should be hit within 24 hours or so. Target of the W bottom is around 0.35, which is a big resistance on the short term. A break of that level would be a first signs. I have 2 green supports on the right which should hold. If the blue one breaks, i think it will be very bad for XRP'.
This is XRP above and BTC below. Very similar price action but it seems XRP is well ahead. Would love to get your thoughts! :)
Also, XRP/BTC is at important .6 Weekly Higher Low support. We should see a bounce going on from here. If not, Ripple is frankly toast. Next important support comes in at .4 in that case.
Best of luck, David. Thanks for sharing your thoughts.
All the best,