XRP Breaks Uptrend Support Line - What Next?
Here we are looking at XRPUSD on the 2hr time frame…
Today we will zoom in on XRP, and analyze the break from its recent rally in which it pumped 45% in just three and a half weeks.
As you can see, throughout this rally XRP had a strong ascending line of support (yellow), which it continuously bounced from, thus continuing the uptrend. It wasn’t until January 30th, that this support line was broken… so what should we expect next?
Since breaking below the local support line, XRP has made two attempts (thus far) at getting back above it. Both re-tests have been met with strong resistance, and have failed in getting back above that line.
We will continue to monitor this chart, and update you as it develops, but we currently expect XRP to remain below previous support (yellow) and move to its next support zone…
What do you think will happen next? Let me know in the comments below!
Trade safely…
Cheers!
Today we will zoom in on XRP, and analyze the break from its recent rally in which it pumped 45% in just three and a half weeks.
As you can see, throughout this rally XRP had a strong ascending line of support (yellow), which it continuously bounced from, thus continuing the uptrend. It wasn’t until January 30th, that this support line was broken… so what should we expect next?
Since breaking below the local support line, XRP has made two attempts (thus far) at getting back above it. Both re-tests have been met with strong resistance, and have failed in getting back above that line.
We will continue to monitor this chart, and update you as it develops, but we currently expect XRP to remain below previous support (yellow) and move to its next support zone…
What do you think will happen next? Let me know in the comments below!
Trade safely…
Cheers!
To see my exact trades:
Stocks: inthemoneystocks.com/verified-investing-alerts/
Crypto: verifiedinvesting.com/
Stocks: inthemoneystocks.com/verified-investing-alerts/
Crypto: verifiedinvesting.com/
Feragatname
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