Everyone is calling for this massive XRP breakout. This is valid as our orange trendline that has been forming for the past 170+ days is about to break. However it may not be time yet.
XRP is getting ready to print a gravestone doji on the daily timeframe. This is in addition to yet another daily close below the orange trendline. The trend is highly likely to reverse back to the downside so use caution.
The only way this can be negated in the short term is if we print a green daily candle tomorrow negating the confirmation of the gravestone doji.
Once we do see price close a daily candle above the orange trendline that will signal a confirmed breakout and any retests of the orange trendline should act as support from that point on. I will up[date this post once we see a confirmed breakout.
XRP is getting ready to print a gravestone doji on the daily timeframe. This is in addition to yet another daily close below the orange trendline. The trend is highly likely to reverse back to the downside so use caution.
The only way this can be negated in the short term is if we print a green daily candle tomorrow negating the confirmation of the gravestone doji.
Once we do see price close a daily candle above the orange trendline that will signal a confirmed breakout and any retests of the orange trendline should act as support from that point on. I will up[date this post once we see a confirmed breakout.
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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.