๐ XRP - ABOUT TO LEAVE THE MOUNTAIN IMPORTANT DAILY ANALYSIS ๐
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Hey! This is an important one, in our last idea we noted how we wanted to see XRP get out of that sideways channel for some better guidance and more bullish activity which we have seen as XRP continued on it's slow but ascending progression however if we look right now, it looks like XRP is starting to form another moment of 'leaving the mountain'. Now if your new and haven't been here already then basically leaving the mountain is what I call it when when you see our 20/50 EMA's flip and we lose the trend line that's formed or we fall out of a channel real hard. You can see the previous 'mountain's departure' highlighted in the white circles and those usually follow after the coin forms some short term bullish momentum only for whales or MM to come in and dump causing the EMA to leave the mountain as well as the trend in most cases.
โ This is especially important considering we got rejected at our 0.40 resistance level twice so this is gonna be a short term bearish movement we're likely about to see as those EMA's flip and I can see thanks to volume that bears/MM's are starting to sell so unless Bulls can fight hard enough we're about to witness another point of leaving the mountain. Now once that happens if it does we'll have to watch 0.39 and see whether or not we can sustain support and bounce off of that or whether or not we simply get hit hard with this mountain drop and get pulled through that 0.39 by which then you should be watching and paying mind to the support that kicks in as they want to drag us back again into that descending channel!
โ I'm gonna leave the idea here for now and keep it short since this is very timely important so watch out for that. I put down a small short term trend line that seems to be forming now on this ascending pattern we've taken on so take a look at that as well, we move below that we'll see a drop or to. Anyway leave and like and follow as always to keep posted as it always supports me and helps me keep doing my best which I always will. I've also been a trader for 2+ coming up on 3 years so yeah that helps a bit and I'm simply here to give it my all and improve with each and every single Idea. Also make sure to do your own DD and research before making and trading decisions. Thank you.
~ Rock
โ This is especially important considering we got rejected at our 0.40 resistance level twice so this is gonna be a short term bearish movement we're likely about to see as those EMA's flip and I can see thanks to volume that bears/MM's are starting to sell so unless Bulls can fight hard enough we're about to witness another point of leaving the mountain. Now once that happens if it does we'll have to watch 0.39 and see whether or not we can sustain support and bounce off of that or whether or not we simply get hit hard with this mountain drop and get pulled through that 0.39 by which then you should be watching and paying mind to the support that kicks in as they want to drag us back again into that descending channel!
โ I'm gonna leave the idea here for now and keep it short since this is very timely important so watch out for that. I put down a small short term trend line that seems to be forming now on this ascending pattern we've taken on so take a look at that as well, we move below that we'll see a drop or to. Anyway leave and like and follow as always to keep posted as it always supports me and helps me keep doing my best which I always will. I've also been a trader for 2+ coming up on 3 years so yeah that helps a bit and I'm simply here to give it my all and improve with each and every single Idea. Also make sure to do your own DD and research before making and trading decisions. Thank you.
~ Rock
