XRP recently broke it's weekly support trend, rejecting hard off of it's two week support.
XRP is now trading within a symmetrical that will break within 2 weeks.
BULL SCENARIO
If break is bullish expect resistance in the $0.40-$0.47.
If a bull run sees continuation, bulls will face little resistance until the $0.60-$0.62 range.
BEAR SCENARIO
A bear break would expect XRP to find support at $0.31-0.32. If bears find continuation, prices could test $0.30 again.
Ultimately, XRP has compounded support for months near $0.30, leaving next to no gains to be made for would be shorts these prices.
CONCLUSION
While my short term mentality is neutral, unless something catastrophic occurs regarding Ripple, XRP can only go one way.
After all, which would you rather trade? A maximum of a 15% dip or approximately a 77% pump?
We all know where this is going, most are just too afraid to admit/accept it.
Be sure to hit that thumbs up if you agree so I can start sharing article/video links discussing fundamentals regrading the trends I've been regularly posting about!
XRP is now trading within a symmetrical that will break within 2 weeks.
BULL SCENARIO
If break is bullish expect resistance in the $0.40-$0.47.
If a bull run sees continuation, bulls will face little resistance until the $0.60-$0.62 range.
BEAR SCENARIO
A bear break would expect XRP to find support at $0.31-0.32. If bears find continuation, prices could test $0.30 again.
Ultimately, XRP has compounded support for months near $0.30, leaving next to no gains to be made for would be shorts these prices.
CONCLUSION
While my short term mentality is neutral, unless something catastrophic occurs regarding Ripple, XRP can only go one way.
After all, which would you rather trade? A maximum of a 15% dip or approximately a 77% pump?
We all know where this is going, most are just too afraid to admit/accept it.
Be sure to hit that thumbs up if you agree so I can start sharing article/video links discussing fundamentals regrading the trends I've been regularly posting about!