Hello traders!
Today I'm sharing my view on XRP.
As We see BTC cooling down a bit and trading in sideways in the 47k - 51k, I think We are in the verge of another beautiful altcoin season.
Anyways, As We see XRP's vol sinking and volatility being squeezed, it is an clear indication that We are accumulating. I have a feeling that We are going to break out of the accumulation zone quite soon and break above the strong .48 resistance, which We have tested several times before in the short period of time.
Also, there is clear bullish momentum, as We have formed an ascending triangle.
Outcome A would be a breakout above the resistance, where We might see a surge up to the 0.60 price range. This is where I would lock-in my profits.
Outcome B would be a break below the lower trendline following with a slide back down to .40 range.
T1: 0.60 (Failsafe)
T2: 0.63
I would set 2 alerts:
Alert 1 at 0.445
Alert 2 at 0.40
My stop-limit/stop loss would be the 0.40 zone, if We see a break below .40 the support with a session close.
Also, keep an eye on BTC as it drives the market.
This is only my view on XRP and I urge You not to act on Your emotions, as the SEC allegations are still on going, it makes this a high risk investment.
Stay wise and take care!
Today I'm sharing my view on XRP.
As We see BTC cooling down a bit and trading in sideways in the 47k - 51k, I think We are in the verge of another beautiful altcoin season.
Anyways, As We see XRP's vol sinking and volatility being squeezed, it is an clear indication that We are accumulating. I have a feeling that We are going to break out of the accumulation zone quite soon and break above the strong .48 resistance, which We have tested several times before in the short period of time.
Also, there is clear bullish momentum, as We have formed an ascending triangle.
Outcome A would be a breakout above the resistance, where We might see a surge up to the 0.60 price range. This is where I would lock-in my profits.
Outcome B would be a break below the lower trendline following with a slide back down to .40 range.
T1: 0.60 (Failsafe)
T2: 0.63
I would set 2 alerts:
Alert 1 at 0.445
Alert 2 at 0.40
My stop-limit/stop loss would be the 0.40 zone, if We see a break below .40 the support with a session close.
Also, keep an eye on BTC as it drives the market.
This is only my view on XRP and I urge You not to act on Your emotions, as the SEC allegations are still on going, it makes this a high risk investment.
Stay wise and take care!