Looking at the current price action of XRP, we are currently in an ascending channel, with price testing the trendlines on both sides quite a few times.
XRP hasnt been showing the volumous bursts like the rest of the market, likely for obvious reasons. However, I think we may experience that or simply a slow appreciation. This chart reminds me of the $Firo channel before breaking out. Check it out on my profile.
From a mini hodl perspective, this is a great entry point, however from a trading POV, it would be wiser to wait for price to break above the previous lower high, and find support outside the short term downtrend.
Previous Analysis linked. Let me hear your thoughts, All views are accepted.
XRP hasnt been showing the volumous bursts like the rest of the market, likely for obvious reasons. However, I think we may experience that or simply a slow appreciation. This chart reminds me of the $Firo channel before breaking out. Check it out on my profile.
From a mini hodl perspective, this is a great entry point, however from a trading POV, it would be wiser to wait for price to break above the previous lower high, and find support outside the short term downtrend.
Previous Analysis linked. Let me hear your thoughts, All views are accepted.
These analyses are my personal view on the market.
Always assume my investment risk tolerance is higher than yours
I’m here to make money, not hold your hand. Never blindly trust any analysis you see online because it fits your bias (including mine).
Always assume my investment risk tolerance is higher than yours
I’m here to make money, not hold your hand. Never blindly trust any analysis you see online because it fits your bias (including mine).
