Here on the , we can see that XRP has been trapped inside of a (in blue) since early 2018. However, there are some interesting technical developments on the chart. As you can see, XRP has been suppressed by the 10 (in pink) since November 21st. However, today we broke out well above the 10 , albeit on light . Now that we can see that a breakout above the 10 is occurring, let's take a look through history to see what we can learn.
Beginning on the left side of the chart, you can see that XRP was below the 10 , and then it rallied above it (first green arrow) and produced a surge into the 50 (in orange.) The 50 was resistance that price couldn't surpass, and XRP fell back below the 10 . Then price popped back above the 10 (second green arrow) and rallied to the 50 again. Price fell back down, and it stayed below the 10 . Then, price popped above it (third green arrow) and rallied to the 50 again, and then all the way up to the top of the channel. From there, price fell, back below the 10 , and then it eventually popped above the 10 again (fourth green arrow) rallying into the 50 again. Price then had one more rally above the 10 (fifth green arrow,) into the 50 , then fell to the bottom of the channel. From there, it popped above the 10 (orange arrow) but failed to reach the 50 . Price fell back below the 10 , then rallied back above it (sixth green arrow,) and surged through the 50 , all the way to the top of the channel.
Now, XRP has popped above the 10 again. We know that six out of the past seven times, this action has produced a rally at least to the 50 . In other words, based on recent history, there is an 85.72% chance that XRP will reach the 50 . That's around 0.3740 or so. If price gets above and holds the 50 as support, look for a rally into the top of the . On the other hand, if the 50 acts as resistance, a retest of the recent low would be likely.
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***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***