XRPUSD / Ripple is having a strong bearish candle on the 1week timeframe, erasing the gains so far of the previous 3 weeks.
Even though that is shaking out many traders off the market, this doesn't affect the long term bullish outlook.
The reason is that XRP is repeating a pattern that seems like an Inverse Head and Shoulders of 2022-23.
You can see that when it finally crossed above Resistance one, it rallied strongly to the 1.786 Fibonacci extension.
Buy and target 1.2500
Follow us, like the idea and leave a comment below!!
Even though that is shaking out many traders off the market, this doesn't affect the long term bullish outlook.
The reason is that XRP is repeating a pattern that seems like an Inverse Head and Shoulders of 2022-23.
You can see that when it finally crossed above Resistance one, it rallied strongly to the 1.786 Fibonacci extension.
Buy and target 1.2500
Follow us, like the idea and leave a comment below!!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
TheCryptagon offers news & insights on global markets (crypto, forex, stocks, commodities). Follow so you don't miss anything!
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
🤑Message us for private forex & crypto signals in our VIP channel (70% accuracy)!💰
TELEGRAM: t.me/thecryptagon
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.