XRP - Bump and Run - New Highs Coming
XRP looks to be on the verge of breaking out to the upside with a Bump and Run type chart.
We have broken out of a bearish trend, retested, and are continuing upward at this moment.
There is expected resistance on a monthly time frame around the $0.84 USD level. But I believe it will reach that area rather quickly over. From my experience with XRP it moves quickly and with high volatility. Sometimes getting these 20-35% moves in a singular day. But retraces quite strong.
The idea here is the longer time frames and daily time frame confluence. Ripple has won the status of XRP being a non security, we saw it rally to $0.95 that exact day; Then retracing the entire move. XRP dominance is beginning to bounce, and BTC & ETH have run. Alts are starting to reprice, and XRP will follow.
XRP/BTC is in a demand zone, XRP/ETH is in a demand zone. XRP/USD is breaking upward.
If I were to put a timeline on this move to 0.84 for some heavy resistance it would be in the next 3-4 weeks.
We have broken out of a bearish trend, retested, and are continuing upward at this moment.
There is expected resistance on a monthly time frame around the $0.84 USD level. But I believe it will reach that area rather quickly over. From my experience with XRP it moves quickly and with high volatility. Sometimes getting these 20-35% moves in a singular day. But retraces quite strong.
The idea here is the longer time frames and daily time frame confluence. Ripple has won the status of XRP being a non security, we saw it rally to $0.95 that exact day; Then retracing the entire move. XRP dominance is beginning to bounce, and BTC & ETH have run. Alts are starting to reprice, and XRP will follow.
XRP/BTC is in a demand zone, XRP/ETH is in a demand zone. XRP/USD is breaking upward.
If I were to put a timeline on this move to 0.84 for some heavy resistance it would be in the next 3-4 weeks.
Comment:
XRP showing more strength.
Comment:
It is now breaking out, trade still in play.
Targets are still proper and in play.