Xrp has been in a solid down trend since Sep 2018
But looking at the chart we have been printing a falling wedge on the weekly, what has me hopeful is seeing that we have made a Higher low on the weekly, this is important to me as we have not printed one for a long time and makes it better that we are tightening up on the wedge.
A break out from here i would imagine to see price head towards the 27c mark making a Higher high then back down to confirm the trend and then an attempt to break out of the 27c resistance
If we do happen to break out i personally wouldn't see price being stopped until around 47c mark so expect fireworks if this plays out.
Always have your own entry and exit plan.
But looking at the chart we have been printing a falling wedge on the weekly, what has me hopeful is seeing that we have made a Higher low on the weekly, this is important to me as we have not printed one for a long time and makes it better that we are tightening up on the wedge.
A break out from here i would imagine to see price head towards the 27c mark making a Higher high then back down to confirm the trend and then an attempt to break out of the 27c resistance
If we do happen to break out i personally wouldn't see price being stopped until around 47c mark so expect fireworks if this plays out.
Always have your own entry and exit plan.