So, as we are finally in an orbit with our XRP rocket, we might could expect some reaccumulation happening before continuing our journey to the moon. The pattern that has formed as we broken through our blue resistence line (now support), tels me that we could repeat Nov- Dec 2020 price action, minus the dramatic price fall of course. We have to understand that XRP price would already be between $1 - $2 area if sec lawsuit wouldn't happen in Dec, nevertheless here we are waiting for the tears of joy to come.
No one knows how long this reaccumulation period could take, but a think it will happen quicker than it did in dec. as we've already broken through a 2year old resistence line (blue)
The reaccumulation pattern could happen differently than it is shown on the graph, as there are many new people in the space than there was in 4-5 months ago. Whatever it happens i still think that this blue support line will get backtested, but don't take my word for it.
I am not a financial advisor so and nothing here should be taken as a financial advise. Stay safe with your investments.
XRPUSD
No one knows how long this reaccumulation period could take, but a think it will happen quicker than it did in dec. as we've already broken through a 2year old resistence line (blue)
The reaccumulation pattern could happen differently than it is shown on the graph, as there are many new people in the space than there was in 4-5 months ago. Whatever it happens i still think that this blue support line will get backtested, but don't take my word for it.
I am not a financial advisor so and nothing here should be taken as a financial advise. Stay safe with your investments.
XRPUSDNote
For now it seems like we are continuing upwards, but still that does not mean that we can come back to back test blue support line as we have to be prepared for high volatility from here.
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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.