We saw a great move by XRP based on the 'news' which turned out to be a garbage. Not bad hitting 0.28+ USD area just from scratch at 0.15 USD.
What can we see on the chart?
Firts of all previously charted Fibonacci levels work fine. Currently we are supported by blue dotted line with a supply zone around 0.25 level. If there is a big green candle braking through this level it is a strong bull confirmation. What we can expect first is testing of this resistance line and also of the current support.
Our ascending channel ignores the 'big news' pop up and works with the previous weeks interrupted move. There is confirmation of an upward tendancy by Ichimoku cloud indicator. For now we want to see a contionuation around the middle line of the channel as it is a bullish one.
There is still lots of uncertainty around XRP but so far we gathered a few indications of a future strong move. As we saw just a few days ago the crown only need a catalyzator of a 'small but real news'. XRP wasn't following the general trend for quite some time and tested its deep major support area several times. The crown is waiting to buy in (just a personal opinion based on the recent actions - a huge volume).
Additional bullish confirmation: BTC hit 5000 resistance falling back to 4500. XRP manage to hold 0.2 area. We are ready to ATH (AllTimeHigh) test.
Disclaimer:
Due to its extremely high volatility Trading Cryptocurrency is very challenging. Potentially it can be a profitable opportunity for investors. However, before deciding to participate in the cryptocurrency market, you should carefully consider your investment objectives, level of experience, and risk appetite. Most importantly invest only money you can afford to lose.
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As expected pulling back to 0.22 Lvl. Just hold and wait. Up the channel slowly and steadily.
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Good resistance to China news. Major support holds. It could go up soon together with BTC.
