XRP rally starting ?

2024年11月20日

Long term analysis - Monthly time frame



XRPUSDT witnessed a completely stunning bullish explosion between March 2017 and January 2018. Since then XRP has been evolving in a multi-years triangle pattern coming to an end. The extremely flat and narrow Bollinger Bands hint at a potential explosive move. First part of this explosive move actually already happened during the last days and price is now encountering the triangle resistance line. This is a strong confirmation of market participant interests, let’s monitor the potential entry point on the lower time frame.

Strategy - Short term analysis



All elements for a potential explosive move are gathered. It gives us a nice trade setup with a very good risk reward ratio.

Buy on the break of the triangle resistance at 1.20$.

1. Objective 1: back to the next resistance at 1.70$ (+40%)
   
2. Objective 2: Following resistance at 3.25$ (+170%)
   
3. Objective 3: ATH at 18$ (+1400%)
   

Invalidation
Mental Stop: below the last low of 1.05$
If prices retrace to this level we will wait for the daily close price then set a Stop loss ¼ or Risk below the weekly close price.

2024年11月22日

交易進行

Buy signal was given, let's monitor this trade closely 🚀

2024年11月29日

註釋

Objective 1 has been reached ✅
Let's take our first profits with 40% gains and secure our position to target the next objectives.

1月16日

註釋

Objective 2 has been reached ✅
Let's take some nice profits with 170% gains. Let the rest target the next objective.