XRP - Trading Ranges - The Catalyst Has Come Tu Send Us Up
As commodities have started to fall and lose strength after a parabolic rise, equities and crypto have started to shine, espacially alts. XRP is no difference. I don't lean much on the news, but yesterday there really was a great one in the Ripple vs SEC case. I am not gonna go into details but it could be the catalyst we've been waiting for.
It is now only the matter of time before parabolic rise will happen for XRP and other alts. Remember also that volatility rises exponentially with the rise in price. We needed the catalyst, and we got two of them. One for the broader crypto market ( and one specifically for the XRP.
With that sad, since the breakout in Nov 2020 xrp price has been ranging in huge price areas. In my view there are currently 4 confirmed and 6-7 theoretical price ranges based on historical price movement (2018). breaking above yellow trendline should be solid sign for broader investor view, which could further push the price up. As far fib retracement levels goes price tends to react on the levels shown with green arrow (0.618; 0.702 and 0.786) so breaking above $1.65 is crucial as those feb levels, espacially .702 and .786 where decision is usually made where eather price will reverse or have a breakout...... in this case the breakout is imminent.
I am not a financial advisor so non of this should be taken asa financial advise. Be Well.
XRPUSDT
It is now only the matter of time before parabolic rise will happen for XRP and other alts. Remember also that volatility rises exponentially with the rise in price. We needed the catalyst, and we got two of them. One for the broader crypto market ( and one specifically for the XRP.
With that sad, since the breakout in Nov 2020 xrp price has been ranging in huge price areas. In my view there are currently 4 confirmed and 6-7 theoretical price ranges based on historical price movement (2018). breaking above yellow trendline should be solid sign for broader investor view, which could further push the price up. As far fib retracement levels goes price tends to react on the levels shown with green arrow (0.618; 0.702 and 0.786) so breaking above $1.65 is crucial as those feb levels, espacially .702 and .786 where decision is usually made where eather price will reverse or have a breakout...... in this case the breakout is imminent.
I am not a financial advisor so non of this should be taken asa financial advise. Be Well.
XRPUSDT
example in BTC:
and now XRP: