Xrp
BTCUSDT and XRPUSDT Technical AnalysisBTCUSDT has already broken two major Resistances on the 4H and 1D . After 4 rejections at the Resistance on the 4H finally it broke above it and has been going up since then. The candles pattern also is showing a pure uptrend for the last 6 days on the Daily time frame .
On the 4H time frame the price has formed a Triangle. We might have a shallow Pullback after the price getting out of the Triangle but what I expect is to go higher to hit 43031.0
Buy now or Buy at 37339.1
SL @ 34119.0
TP1 @ 43031.0
TP2 @ 47578.0
TP3 @ 51555.2
XRPUSDT also has formed a Triangle on 4H and daily time frames. We need to wait until it gets out of the Triangle and then based on the Candlestick patterns on the lower time frames look for any potential entry in the direction of the market.
Happy Trading :)
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XRP on triangle formation.Bitcoin falling - Ethereum Falling.
However the fall across the crypto board is not that visible on the XRP (and quite a few others).
Is it the intrinsic fundamental of the use of XRP that's holding it?
Is XRP trying to touch the previous fame of $3?
Is XRP waiting for a fall or waiting to rocket up?
The simple formation of the triangle (with both edges having similar slopes) is also creating a confusion nad the this state is narrowing, as seen on a day's chart.
Ichimoku says: Price is above all lines and above the cloud (bullish nature), lagging span is just above price, just holded by Tenken Sen - around 1.5 (trying to break to move into bullish territory). However, there is a twist nearby, which can easily give the market the bearish sentiment.
The breakout can be either side, but only if supported by heavy volume, which is decreasing as of now. A tight spread between 1.6 and 1.3 is what XRP is facing for now. But beyond this level, with confirmed outbreak (atleast a sharp breakout with high volume and closing above or below this level, rally is expected.
Bullish is what it seems, or atleast what it is hoped!
Happy trading!
💡Don't miss the great buy opportunity in XRPUSD @Ripple
Trading suggestion:
". There is a possibility of temporary retracement to the suggested support line (1.4485).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. XRPUSDT is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 53.
Take Profits:
TP1= @ 1.6361
TP2= @ 1.7649
TP3= @ 1.9619
TP4= @ 2.0798
TP5= @ 2.6238
SL= Break below S2
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