XRP seems to be forming a flag at the moment and is sitting on the teal support line and needs to get on its horse and start moving back up to the top of the trendline and start testing the supply area. If we could break above the $0.57 area, a test of the supply zone around $0.62 is very possible.
However, MACD is starting to look like it might turn over bearish and the RSI does have a little more room on the upside before hitting resistance but we could see it hit and back off a little.
A break below the bottom trendline could have us test the breakout zone once more and if it is not defended, we could head back down to $0.33 but Bitcoin movement lower would probably cause such a move.
Thanks guys!
However, MACD is starting to look like it might turn over bearish and the RSI does have a little more room on the upside before hitting resistance but we could see it hit and back off a little.
A break below the bottom trendline could have us test the breakout zone once more and if it is not defended, we could head back down to $0.33 but Bitcoin movement lower would probably cause such a move.
Thanks guys!
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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.