Ripple is an alt that has caught my eye during this bear market due to its great performance since September. And since I have been watching it, I've spotted a couple things I think are worth mentioning.
1) There is a big inverse head and shoulders pattern seen in green. Using the head height to determine the target area, I think XRP can hit .00017 with maybe some over-exuberance to the .0002 area. However, the neckline has proven to be strong resistance. This brings me to my next point...
2) The 100 day moving average recently crossed the 200 day moving average. When this happened in November, the price grew 50% in two weeks. This may be the catalyst XRP needs to break the neckline and move on to the inverse head and shoulders target.
You can see the strong uptrend XRP has been in since September This could be a great opportunity to scoop up some cheap XRP before it completes the IHS pattern and goes lunar. Volume for XRP has been great and is increasing. It is now #2 in volume CoinMarketCap, surpassing the long-time runner-up to Bitcoin, Ethereum. The ingredients are there. Now we wait for it all to come together.
1) There is a big inverse head and shoulders pattern seen in green. Using the head height to determine the target area, I think XRP can hit .00017 with maybe some over-exuberance to the .0002 area. However, the neckline has proven to be strong resistance. This brings me to my next point...
2) The 100 day moving average recently crossed the 200 day moving average. When this happened in November, the price grew 50% in two weeks. This may be the catalyst XRP needs to break the neckline and move on to the inverse head and shoulders target.
You can see the strong uptrend XRP has been in since September This could be a great opportunity to scoop up some cheap XRP before it completes the IHS pattern and goes lunar. Volume for XRP has been great and is increasing. It is now #2 in volume CoinMarketCap, surpassing the long-time runner-up to Bitcoin, Ethereum. The ingredients are there. Now we wait for it all to come together.