Large Upward Movement Due on XRPUSD Chart
As shown in the weekly chart, XRP has seen a large upward movement an average of every 259 days with 280 days being the longest period betwen large movement. We have now reached the the point of average days in between which means a large impulsuve move should be due within the next 20 days if history rhymes. We have recently broke out of a descending channel after bottoming with tweezer top candles on a large support level followed by two bullish engulfing candles through two levels of key resistance. The next move after a potential consolidation will take us to the next resistance level at 30c followed by a break towards the larger macro trend line that has formed since February 2018.
As shown in the weekly chart, XRP has seen a large upward movement an average of every 259 days with 280 days being the longest period betwen large movement. We have now reached the the point of average days in between which means a large impulsuve move should be due within the next 20 days if history rhymes. We have recently broke out of a descending channel after bottoming with tweezer top candles on a large support level followed by two bullish engulfing candles through two levels of key resistance. The next move after a potential consolidation will take us to the next resistance level at 30c followed by a break towards the larger macro trend line that has formed since February 2018.