XRP is on the move to $0.78! Long

XRP / TetherUSBinance

Description

⋅ Dec 17, 2020 3:51 PM

XRP has broken out from the downtrend bearish channel by breaking the downtrend line and confirming it as a support level.

Currently the 4h technical aspects are looking very bullish and strong bullish momentum will be seen as the volume is increasing.

RSI is above 60 and MACD on a strong buying wave, last confirmation will be the 20 and 50 buy signal.

The target levels are located at:
$0.64 - 7% profit
$0.68 - 14% profit
$0.74 - 25% profit
$0.78 - 30% profit

Thanks for your time and good luck with this XRP trade!
Cheers, Tibor.

Comment

⋅ Dec 17, 2020 5:23 PM

First target of $0.64 - 7% reached under one hour!

Comment

⋅ Dec 17, 2020 7:44 PM

At first look the 13% drop can bring some bearish thoughts, but looking at the one hour time frame uncovers a very much bullish outlook.

The 13% dipped was bought into and resulted in 10% spike to the upside, creating a recent high at $0.628.

RSI is still above 60, still showing a strong bullish potential while MACD is still on a buying wave.

And a clear second bounce from the 20 EMA also confirms a strong bullish 1h trend.

Comments

Fisher_Fx

⋅ Dec 17, 2020 4:12 PM

Nice break out man. thanks for sharing

TiborVrbovsky

⋅ Dec 17, 2020 5:55 PM

@Fisher_Fx, Thanks

Ernecy

⋅ Dec 21, 2020 9:42 PM

Good work 👍