XRP is overheating, 24 hour stats are such that it still has room for another parabolic run.
BUT! It's sitting at a Triumvirate of Resistance, recent Fibonacci Extension Golden Pocket and an old Fibonacci Retracement level from all time high.
One can argue that all three of these things are subjective, and true I usually eyeball the levels, but it works, so people keep using these methods.
Watching the Level2, I'd say volume hasn't been anything extraordinary, so XRP might be ready for a quick retracement.
Theory #1
Healthy rejection of the GP, XRP will target 0.8061 and potentially 0.7623
I am not rushing into this Short, aiming for a good entry. XRP might try to form a Flag or a triangle of some sort.
Harsh critique is welcome and appreciated!
This is my Thesis, targets are purely hypothetical based on my analysis.
This is NOT Investment and/or Trading Advice.
Happy Trades!
❤️ If you enjoy my ideas, Please like/comment, it means a lot, Thank You! ❤️
XRPUSDT
XRPPERP
XRPUSDT
XRPUSD
BUT! It's sitting at a Triumvirate of Resistance, recent Fibonacci Extension Golden Pocket and an old Fibonacci Retracement level from all time high.
One can argue that all three of these things are subjective, and true I usually eyeball the levels, but it works, so people keep using these methods.
Watching the Level2, I'd say volume hasn't been anything extraordinary, so XRP might be ready for a quick retracement.
Theory #1
Healthy rejection of the GP, XRP will target 0.8061 and potentially 0.7623
I am not rushing into this Short, aiming for a good entry. XRP might try to form a Flag or a triangle of some sort.
Harsh critique is welcome and appreciated!
This is my Thesis, targets are purely hypothetical based on my analysis.
This is NOT Investment and/or Trading Advice.
Happy Trades!
❤️ If you enjoy my ideas, Please like/comment, it means a lot, Thank You! ❤️
XRPUSDT
XRPPERP
XRPUSDT
XRPUSD
