๐ฒXRP silence before the breakout
๐ฒOver the past few days we have seen cryptocurrencies wake up from accumulation and we have seen most of them break out beautifully. Breaking through local resistance lines.
๐ฒOn XRP, the situation is a little different
๐ฒThe start of the breakout occurred on 7 September from levels of 0.32 to 0.56 within 2 weeks. The range of this impulse was 79%
๐ฒAfter which we cooled the atmosphere and started to accumulate. Falling double to the 50% level of the upward wave, from where the price was pulled up again.
๐ฒRising stock indices
and the fall of the dollar
resulted in a renewed influx of capital into higher-risk instruments such as cryptocurrencies.
๐ฒAs you can see XPR has not yet reacted to this breakout opportunity.
๐ฒBut I believe this could change in the coming days and we will see increases on one of these most popular cryptocurrencies.
๐ฒMoving to the weekly chart, we can see that the price reacted perfectly and stopped at the 0.236 level of the downward wave of the biggest correction.
๐ฒAssuming the uptrend continues in the coming days, we can expect a rebound even to the area of 0.7 per xrp.
๐ฒLooking at this movement from the current level, this would be an increase of 51.6%.
๐ฒIf we place the foot under the last accumulation holes after the first break-out, i.e. in the area of 0.38, the risk reward ratio is 2.91, which is very good.
๐If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.๐
๐ฒOver the past few days we have seen cryptocurrencies wake up from accumulation and we have seen most of them break out beautifully. Breaking through local resistance lines.
๐ฒOn XRP, the situation is a little different
๐ฒThe start of the breakout occurred on 7 September from levels of 0.32 to 0.56 within 2 weeks. The range of this impulse was 79%
๐ฒAfter which we cooled the atmosphere and started to accumulate. Falling double to the 50% level of the upward wave, from where the price was pulled up again.
๐ฒRising stock indices
and the fall of the dollar
resulted in a renewed influx of capital into higher-risk instruments such as cryptocurrencies.
๐ฒAs you can see XPR has not yet reacted to this breakout opportunity.
๐ฒBut I believe this could change in the coming days and we will see increases on one of these most popular cryptocurrencies.
๐ฒMoving to the weekly chart, we can see that the price reacted perfectly and stopped at the 0.236 level of the downward wave of the biggest correction.
๐ฒAssuming the uptrend continues in the coming days, we can expect a rebound even to the area of 0.7 per xrp.
๐ฒLooking at this movement from the current level, this would be an increase of 51.6%.
๐ฒIf we place the foot under the last accumulation holes after the first break-out, i.e. in the area of 0.38, the risk reward ratio is 2.91, which is very good.
๐If you appreciate my work and effort put into this post I encourage you to leave a like and give a follow on my profile.๐
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๐ฒ www.t.me/Investmatez ๐ฒ
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