XRP is one of the better performing tokens since the sell-off on the 20th of July, seeing over 40% gains from then till now.
With XRP currently trading around a minor support area, a few things can happen. The key support for the coming days is $0.70. When we get a daily close below $0.70 it could be the signals for a larger sell-off, trading on the assumption that we're trading inside a horizontal channel.
In case of a downfall, I'm eyeballing the red area of strong support for a potential re-entry into the market. Market fundamentals are looking quite strong at the moment, so my trading bias is still long.
In case BTC regains its strength in the coming days, a daily close above $0.73 (and consequently $0.77) would indicate a continuation of the bullish move. My bullish target for the coming two weeks is the green area of resistance, ranging from $0.90 - $0.93.
Keep a close eye on Bitcoin's moves in the coming days.
Happy trading!
With XRP currently trading around a minor support area, a few things can happen. The key support for the coming days is $0.70. When we get a daily close below $0.70 it could be the signals for a larger sell-off, trading on the assumption that we're trading inside a horizontal channel.
In case of a downfall, I'm eyeballing the red area of strong support for a potential re-entry into the market. Market fundamentals are looking quite strong at the moment, so my trading bias is still long.
In case BTC regains its strength in the coming days, a daily close above $0.73 (and consequently $0.77) would indicate a continuation of the bullish move. My bullish target for the coming two weeks is the green area of resistance, ranging from $0.90 - $0.93.
Keep a close eye on Bitcoin's moves in the coming days.
Happy trading!
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