I've been made aware by good guy @Ollie1234 about XRP on Log-Chart. While most log charts on XRP are incredibly motivated, and as much as I'd love to see XRP rocketing thru the ceiling to make everyone happy, there are a few points that need to be discussed:
1. When you look at the current formation XRP is in right now, you'll notice it literally sitting on the lower channel trend line. 2. The triangle unfortunately exceeds the main formation (not by a little) and could potentially affect the trend negatively. 3. The stock would need to shoot up right now (and pass 0.29000 right above the 200SMA) to be good for higher levels.
Now there is some leeway to continue into the bearish area, but breaking down below it (and even above it, too far out) would confirm my previous trend analysis on the Linear chart. Zoom out to see all formations at once.
I have no position in this right now, but depending on what it does, I might.
Shoutout to @Ollie1234
1. When you look at the current formation XRP is in right now, you'll notice it literally sitting on the lower channel trend line. 2. The triangle unfortunately exceeds the main formation (not by a little) and could potentially affect the trend negatively. 3. The stock would need to shoot up right now (and pass 0.29000 right above the 200SMA) to be good for higher levels.
Now there is some leeway to continue into the bearish area, but breaking down below it (and even above it, too far out) would confirm my previous trend analysis on the Linear chart. Zoom out to see all formations at once.
I have no position in this right now, but depending on what it does, I might.
Shoutout to @Ollie1234
Comment:
Notice between 2015-2017 before the breakout you have consistently higher highs and higher lows, while between 2017-2019 you have consistently lower highs and lower lows. We'll definitely know more by Monday.