We have another ascending triangle forming on the weekly timeframe, similar to the previous ascending triangle.
In the previous triangle, we had a breakout after the price broke resistance. I suspect the same will happen when we break current resistance of around $1.59.
XRP has bounced off the supporting trend line perfectly after the recent correction we had in cryptocurrencies. The price hitting the support line was also a beautiful backtest of a 3 year resistance. This signals that the bottom is in and we can expect price to slowly inch higher towards the new resistance line.
Bitcoins also made lower highs from the recent correction while its dominance continues to drop. This all signals that we are ready to move in to the next leg up with alt-coins joining in for a wild ride
In the previous triangle, we had a breakout after the price broke resistance. I suspect the same will happen when we break current resistance of around $1.59.
XRP has bounced off the supporting trend line perfectly after the recent correction we had in cryptocurrencies. The price hitting the support line was also a beautiful backtest of a 3 year resistance. This signals that the bottom is in and we can expect price to slowly inch higher towards the new resistance line.
Bitcoins also made lower highs from the recent correction while its dominance continues to drop. This all signals that we are ready to move in to the next leg up with alt-coins joining in for a wild ride
