XRPUSD (Ripple) sitting on a major down trend line
You probably know that so far we've experienced
3 major bullish crypto cycles. What you might not
know is that each of those bull runs has 5 phases.
Phase 1: Bitcoin starts increasing
Phase 2: Bitcoin keeps on increasing and Ethereum
starts rallying as well (This is where we're likely right now)
Phase 3: Both Bitcoin and Ethereum keep increasing.
Ethereum might outperform Bitcoin in some periods.
Other major cryptocurrencies like Ripple start their rallying
period as well
Even though the current crypto bull run has started earlier
then expected, so far it's structure is very similar to the
previous rallies. If we are to judge by them, this means
that we are likely in phase 2 and soon may go into phase 3.
If that is the case, very soon, Ripple can start it's ascend
and the technical analysis confirms such an opportunity.
Monitor this chart for a breakout
3 major bullish crypto cycles. What you might not
know is that each of those bull runs has 5 phases.
Phase 1: Bitcoin starts increasing
Phase 2: Bitcoin keeps on increasing and Ethereum
starts rallying as well (This is where we're likely right now)
Phase 3: Both Bitcoin and Ethereum keep increasing.
Ethereum might outperform Bitcoin in some periods.
Other major cryptocurrencies like Ripple start their rallying
period as well
Even though the current crypto bull run has started earlier
then expected, so far it's structure is very similar to the
previous rallies. If we are to judge by them, this means
that we are likely in phase 2 and soon may go into phase 3.
If that is the case, very soon, Ripple can start it's ascend
and the technical analysis confirms such an opportunity.
Monitor this chart for a breakout
Trade active:
The price keeps on bombarding the down trend resistance. Recently both Bitcoin and Ethereum have been gaining a lot of value. This meens that soon the 3rd phase of the crypto rally can start
Comment:
Price produced a breakout
Comment:
Price is correcting together with the entire crypto market. It is also retesting the former general down trend resistance which now acts as a support. Should the price hold and bounce up from here, this can produce a string increase in the price in a short period of time