Welcome folks to my new update on XRP. I am using 8 hours timeframe to analyze this coin.
If you are viewing my post for the first time then do hit the like button and graciously follow as well. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest in my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on it or use it to understand the market.
XRP is under a symmetrical triangle pattern and usually in this triangle pattern when the price action grows increasingly narrow, either up or down, the market breakout or breakdown heavily. The current price of XRP is at resistance and we can expect a small rejection followed by a big move. This is possible only if XRP breaks above the resistance level.
Here are the possible entry and exit levels on XRP:
Entry: Long between $0.72 to $0.76. (Note: We need a green confirmation candle above the resistance level in order to enter this trade).
Targets: $0.83, $0.9, $0.98, and $1.1
SL: $0.61
Remember: Do not FOMO. Enter this trade only after the confirmation. I am keeping a close eye on this one.
Let me know what you guys think about XRP's current price action.
I'll see you on my next update until then trade safely.
Do like, and follow for more interesting updates.
Thank you.
If you are viewing my post for the first time then do hit the like button and graciously follow as well. I share updates on the crypto market including margin trading, futures, spot, and scalping. All ideas are my biased opinion and I invest in my own risk. I don't force anyone to buy or sell, I simply share my ideas absolutely for free and it is your sole decision whether to trade on it or use it to understand the market.
XRP is under a symmetrical triangle pattern and usually in this triangle pattern when the price action grows increasingly narrow, either up or down, the market breakout or breakdown heavily. The current price of XRP is at resistance and we can expect a small rejection followed by a big move. This is possible only if XRP breaks above the resistance level.
Here are the possible entry and exit levels on XRP:
Entry: Long between $0.72 to $0.76. (Note: We need a green confirmation candle above the resistance level in order to enter this trade).
Targets: $0.83, $0.9, $0.98, and $1.1
SL: $0.61
Remember: Do not FOMO. Enter this trade only after the confirmation. I am keeping a close eye on this one.
Let me know what you guys think about XRP's current price action.
I'll see you on my next update until then trade safely.
Do like, and follow for more interesting updates.
Thank you.
