Summer ended, but not the passion for cryptos. I am going to share my thoughts, based on chart analysis, about Ripple (XRP).
As you notice, I always tend to make clear and simple charts since I believe it is important to learn how to read the PRICE ACTION.
We can say the has ended, and a , with nice strenght, has begun. This is based on objective rules, a higher high (red arrow) and a higher low (blue) are formed. This was followed by a nice breakout of the past 2- months consolidation (july-aug, orange area). It seems the price is starting to react. Now, we just have to follow the wave.
If you take a step back, you could see a nice Triangle Patter. The breakout occured with a significant green candle. The target is based on the widht (high-low) of the triangle. Then, this distance is projected from the breakout price creating the target. We might have, of course possible reactions, but if we can go through all the obstacles (breaking highs and resistances), we will reach our target.
Thanks fellows, feel free to share your thoughts in the comments below.