Welcome to this analysis about XRP on the daily timeframe perspectives. In recent times the whole cryptocurrency market has shown up with important factors that increased volatility spikes in the market. In this case, it is highly crucial to look at the diverging dynamics and see the differences between certain cryptocurrencies as there are coins that are forming more bullish potentials while there are coins that are forming more bearish or neutral potentials. Therefore when looking at this dynamic with XRP we can watch here that XRP has recently completed this huge massive descending-triangle-formation with an exponential breakout above the upper boundary in which it heavily increased with volatility. Now XRP since forming this breakout has continued with to emerge with this decisive confirmational-formation above the upper boundary and also above the 45- as well as 65-EMA which serve as crucial supports here. The fact that XRP is developing this main confirmational-triangle now shows a central setup from where XRP has abilities to continue further. In fact, as this whole descending-triangle has been completed this activated the main target zone within the 1.3 USD level as it is shown in my chart, once this zone has been reached the situation needs to be elevated again, it will be an important destiny ahead.
In this manner, thank you for watching the analysis, all the best! "There are many roads to prosperity, but one must be taken."
Information provided is only educational and should not be used to take action in the markets.
@masodjakkolop11, Good idea - personally expecting depending on main market BTC - that we are going to enter new breakdown trend soon - and i am not sure or this will be good for XRP coming time. My view on ETN update:
Gunslinger2005
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you expect btc to tank and xrp of all things to moon. we will see
jbcvlove
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@Gunslinger2005, This is just Market cycle. Besides, what real use case does BTC have compared to XRPs utility. Moving any currency in 3-5 seconds with settlement is something BTC is unable to do.
AlkalineFX
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Love this vince!
MarsSignals
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The price has also hit our R1 resistance and is falling. I think it can be creating an inverse head-and-shoulder pattern, just like Bitcoin.
MarsSignals
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Great charting
pluckyProfile30951
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I love this chart and agree, but XRP will only break to the upside if BTC allows it.