XRP: Makaveli🦍Trader XRP update,Is it time to buy XRP pullback?
XRP bulls are not done yet but pullbacks are normal in every bull run and this bull run still have a long way to go as we have only recently experienced wave 2 on the daily chart, The big question remains is it yet time to start buying the pullback since we are till in a bull trend? Thank you for your constant supports to our channel, Do subscribe if you are new to our channels.
For the sake of new traders(Bulls: means Buy force and Bears Means Sell Force, Support: means an Area where majority of traders place buy orders, Resistance: Means an Area where majority of traders place their sell orders, Consolidation: Means a sideways market where price is in stagnation as a result of equal buy and sell force, Force: means Money)
My last analysis I talk about xrp seeing a pullback to 1.26 to 0.6 after hitting 1.5, but the pullback ended at 1.29 where the bulls over powered the bears to hit the upper part of the bears resistance line of the channel at 1.96. This is very normal in a bull market especially one like xrp as a result of the parabolic spike from the long time consolidation since the drop in dec 2020 to 0.2 area support. It is also good to take note of the current
Let's take a closer look at the consolidation on the 4hrs chart :
We see that the price has been moving sideways since few day past now and shows since of break out soon but the question remains, will it break out to the upside or to the downside?
From my view of this consolidation we are likely to see a bounce of some sort to the upside as price is still currently on support but this support need more buy power to break the current resistance at the $2 range. the most likely support to this job better will be the $0.8 to 0.6 support area as this will enable the bulls hit $3 next. the current parallel channel shows strong resistance and possible support area.
In my opinion I still see possible 0.8 to 0.6 on XRP so I will definitely be patient for this if you are in for a long term on XRP
For the sake of new traders(Bulls: means Buy force and Bears Means Sell Force, Support: means an Area where majority of traders place buy orders, Resistance: Means an Area where majority of traders place their sell orders, Consolidation: Means a sideways market where price is in stagnation as a result of equal buy and sell force, Force: means Money)
My last analysis I talk about xrp seeing a pullback to 1.26 to 0.6 after hitting 1.5, but the pullback ended at 1.29 where the bulls over powered the bears to hit the upper part of the bears resistance line of the channel at 1.96. This is very normal in a bull market especially one like xrp as a result of the parabolic spike from the long time consolidation since the drop in dec 2020 to 0.2 area support. It is also good to take note of the current
Let's take a closer look at the consolidation on the 4hrs chart :
From my view of this consolidation we are likely to see a bounce of some sort to the upside as price is still currently on support but this support need more buy power to break the current resistance at the $2 range. the most likely support to this job better will be the $0.8 to 0.6 support area as this will enable the bulls hit $3 next. the current parallel channel shows strong resistance and possible support area.
In my opinion I still see possible 0.8 to 0.6 on XRP so I will definitely be patient for this if you are in for a long term on XRP
