Ripple : This seems to be "Absolutely" perfect time for Entry.
Hello guys. It's been a little while since we have posted our idea. Here we again giving you sharp and well studied technical analysis once again. Happy to get back to you.
So our today's study will look at the long awaited #XRP breakout. Ripple have been struggling since June 2021 and has been in a longer down trend correcting itself with other alt coins. In the weekly chart that we consider to see the possible outcomes in the mid to longer terms Ripple breaked out from the strong resistance line depicted by the upper side blue line. Volume looking goo after a huge amount of cash flowed into XRP and specially the court case that the ripple community won did have a very big impact on the breakout.
- On the other hand MACD50 looking bullish heading to be under the price in the following days if trading will continue to behave the same way as it is now. MACD 200 looking comfortably bullish too which starts to be under the price for the second week in a row after the newly started weekly candlestick.
- At last the falling wedge created seems to be already broken and bulls are having a good positions helping themselves strengthen in the prior 2 weeks.
Conclusion : Considering the longer term investment opportunity we are looking for a very good profitable trading on XRP since it have a good project on hand with a very strong community base. Besides the fundamental insights technically speaking the chart is defiently on favor of the bulls. I will be analyzing the shorter timeframes and will give you some insights about the short term profit possibilities.
Accumulation Area : 0.41 usdt - 0.55 usdt
Possible strong resistance areas to consider a distribution for traders are :
Target 1 : 0.68 usdt
Target 2 : 0.92 usdt
Target 3 : 1.12 usdt
Target 4 : 1.32 usdt
Target 5 : 1.6 usdt
Target 6 : +1.96 usdt
Stop Loss : 0.38 usdt and 0.31 usdt
Thank You For Your Time and don't forget to give a like if you agree with the idea or drop your comments if you don't agree with the idea and lets learn from each other.
With Regards.
Nathnael B.
So our today's study will look at the long awaited #XRP breakout. Ripple have been struggling since June 2021 and has been in a longer down trend correcting itself with other alt coins. In the weekly chart that we consider to see the possible outcomes in the mid to longer terms Ripple breaked out from the strong resistance line depicted by the upper side blue line. Volume looking goo after a huge amount of cash flowed into XRP and specially the court case that the ripple community won did have a very big impact on the breakout.
- On the other hand MACD50 looking bullish heading to be under the price in the following days if trading will continue to behave the same way as it is now. MACD 200 looking comfortably bullish too which starts to be under the price for the second week in a row after the newly started weekly candlestick.
- At last the falling wedge created seems to be already broken and bulls are having a good positions helping themselves strengthen in the prior 2 weeks.
Conclusion : Considering the longer term investment opportunity we are looking for a very good profitable trading on XRP since it have a good project on hand with a very strong community base. Besides the fundamental insights technically speaking the chart is defiently on favor of the bulls. I will be analyzing the shorter timeframes and will give you some insights about the short term profit possibilities.
Accumulation Area : 0.41 usdt - 0.55 usdt
Possible strong resistance areas to consider a distribution for traders are :
Target 1 : 0.68 usdt
Target 2 : 0.92 usdt
Target 3 : 1.12 usdt
Target 4 : 1.32 usdt
Target 5 : 1.6 usdt
Target 6 : +1.96 usdt
Stop Loss : 0.38 usdt and 0.31 usdt
Thank You For Your Time and don't forget to give a like if you agree with the idea or drop your comments if you don't agree with the idea and lets learn from each other.
With Regards.
Nathnael B.
