Long coming up if price gives us bullish price action and a break of the next counter trendline. Price currently is sitting above strong support, the 0.50 psychological level which has been tested numerous times in June/July and the 50% Fib level.
Next target would be resistance at 0.90 cent, one of XRP's most significant key levels
Potential further rejection after last weeks pinbar at a confluence zone consisting of the 1.800 psychological level, a recent supply zone and an equidistant channel from last years low. Price also seems overextended and a pullback to the MA is likely. I see next support at around 1.740.
*Personal analysis only. It is advised to use your own rules and...
The currency might form another impulse to the upside after consolidating since January 4th. Price broke the 9 day descending channel yesterday and is consolidating just above channel support at the moment, forming another channel on the lower timeframes. A breakout of this pattern followed by bullish price action and we could see new highs on this...
Potential second impulsive move to the upside after price broke and retested trendline, EMAs and .236 Fib level. First target at the 1.27 Fib extension.
*Personal analysis only. It is advised to use your own rules and strategies prior to entering market.
The pair has been in an uptrend since April and we might see a continuation from 1.2900 at a potential Bullish Cypher D leg completion and weekly horizontal support. The idea is also supported by an ascending trendline from March this year.
Probable reversal zone below 51.00 at a potential Bearish Bat D leg completion, weekly horizontal resistance dating back to 2007 and minor decending trendline resistance. The area is also close to the 50.00 psychological level.