We've all seen the massive drop of XRP two days ago. A potential investigation stirred the market after hyperbolic growth a few weeks earlier, leading to investors selling their XRP coins en masse.
XRP didn't fall all the way, though. The daily candles closed right at the lower support line of the channel, signaling a new way upward.
With Bitcoin showing signs of a potential new bull run, XRP will most likely follow suit. After such a massive sell-off, this is the perfect opportunity to buy.
On the chart I marked two channels, with Resistance 1 and Resistance 2 marking their respective upper trend lines. Trade with caution around those trend lines since I expect a lot of selling pressure there.
XRP didn't fall all the way, though. The daily candles closed right at the lower support line of the channel, signaling a new way upward.
With Bitcoin showing signs of a potential new bull run, XRP will most likely follow suit. After such a massive sell-off, this is the perfect opportunity to buy.
On the chart I marked two channels, with Resistance 1 and Resistance 2 marking their respective upper trend lines. Trade with caution around those trend lines since I expect a lot of selling pressure there.
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