I highly recommend looking at our past XRP post as it turned into a picture perfect prediction:
From our previous post we were looking for either a break above our red box ($2.60-$2.70) or a retest of our green triangle to flip that level of old resistance into new support.
Price got rejected at the red box, perfectly retest our trendline of old resistance as new support and have started the new leg to the upside. Now what are our price targets.
There are two main price targets I want to focus on in the short term. The first is slightly above the $3.50 level. This would be our 1.618 extension target from our recent swing low to swing high.
The second target is around $5.30. The reason the price target could play a role in future price development is because of these two factors. It is the 1.618 extension target of our macro swing high to swing low and it is also right in line with our flagpole extension target from our current bull flags (white line).
From our previous post we were looking for either a break above our red box ($2.60-$2.70) or a retest of our green triangle to flip that level of old resistance into new support.
Price got rejected at the red box, perfectly retest our trendline of old resistance as new support and have started the new leg to the upside. Now what are our price targets.
There are two main price targets I want to focus on in the short term. The first is slightly above the $3.50 level. This would be our 1.618 extension target from our recent swing low to swing high.
The second target is around $5.30. The reason the price target could play a role in future price development is because of these two factors. It is the 1.618 extension target of our macro swing high to swing low and it is also right in line with our flagpole extension target from our current bull flags (white line).
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