Hi all, Just taking a quick look at the XRP/USD 4HR chart, and noticed this symmetrical triangle forming, and then also noticed there was a larger one as well, the first looks nice to approach 24.35 cents, (confluent with a fib 0.5) and then second could take it to 27.78 cents, as always dependant upon BTC, but XRP does seem to be wanting to find it's stride lately. Not financial advice, and again DYOR. GL traders...adios
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So what I would like to see is in the next day or two an attempt at 22.4 and then either small rejection or breakthrough, ie. it would be need a break of 21.8 , and then retest of the smaller triangle as support and then gather momentum to breach the upper triangle at 23.4 on 16/1
further to that an approach to test the upper triangle...again would need support after a breakthrough...to hard to explain...let me just show you....
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Well that was picture perfect, except for the speed, touched the 0.5 fib and now we should pullback to retest the larger symmetrical triangle at about 22.4, and then consolidate for a bit, then onwards to about 27.8, probably sooner than expected maybe 20-22 Jan. Leave a comment if you like, to share your thoughts on this. Thanks