Ripple Looks Strong As it Approaches Resistance (XRP)

Hi friends! Welcome to this update analysis on Ripple! Let's get right to tit! Looking at the four hour chart, you can see that XRP has just broken out to the upside of a pennant flag. However, there is some considerable resistance just overhead. We have the 200 EMA (in purple) followed by a falling resistance trendline from the two prior highs. On the MACD, XRP has just printed a bullish crossover, and the volume is starting to pick back up as well, confirming the breakout of the pennant. So, now we have to see how XRP reacts to these overhead resistance levels. If the 200 EMA and the falling trendline are both surpassed, we could see XRP rally up toward the 78.6% retrace, around 0.865. I've drawn a projection on the chart, from the breakout point, to show where XRP could go, but it all depends on how it reacts to these imminent resistance levels. If the falling black trendline is surpassed, there is a lot of open space for XRP to rally through, until it reaches the 786. Keep an eye on those levels, and good luck trading!

I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic! Au revoir.

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-Magic loves you-

-JD-