XRP broke it’s consolidation during the beginning of August with the most recent bitcoin plummet. It has been failing to correct back to the $.45-47 resistance levels since.
The red dotted lines represent two different 2017 support lines that I feel are very accurate. I do not draw my trend lines from wick to wick or body to body, more so I look for more confirmative support/resistance levels. I do not simply draw from high to high or low to lower low, I look for areas that have additional support/resistance from previous action..
The green dotted lines are resistance levels representing levels XRP must return to if it wants to avoid another $.10+ drop to 2017 support levels again.
XRP volume has decreased massively since the beginning of 2018. The previous most resistance sits around $.38, with this broken we can look for a quick 15%+ rise back to the $.45 area. I would most likely make an entry around the $.39 level for more confirmation of a small bullish push.
If we notice billions being pulled over the next few days, we should then look for the previous supports as entry. I follow btc and xrp closely for similar price action.
XRP current price $0.335
This is my personal opinion, this is not investment advice, invest at your own risk and good luck trading.
COMPLETED 4:26pm LOS ANGELES
The red dotted lines represent two different 2017 support lines that I feel are very accurate. I do not draw my trend lines from wick to wick or body to body, more so I look for more confirmative support/resistance levels. I do not simply draw from high to high or low to lower low, I look for areas that have additional support/resistance from previous action..
The green dotted lines are resistance levels representing levels XRP must return to if it wants to avoid another $.10+ drop to 2017 support levels again.
XRP volume has decreased massively since the beginning of 2018. The previous most resistance sits around $.38, with this broken we can look for a quick 15%+ rise back to the $.45 area. I would most likely make an entry around the $.39 level for more confirmation of a small bullish push.
If we notice billions being pulled over the next few days, we should then look for the previous supports as entry. I follow btc and xrp closely for similar price action.
XRP current price $0.335
This is my personal opinion, this is not investment advice, invest at your own risk and good luck trading.
COMPLETED 4:26pm LOS ANGELES