Monfex is at your service and today we overview XRP/USD.
On the chart, we see two large channels (ascending) that set the trend up. Locally, it is located in a small .
The first scenario: there is a where the support line of one of the channels ~ $ 0.15 - 0.20 also crosses, from which an impulsive push up to new historical peaks is possible. Also, it can be assumed that the will move to the positive bull level of 0.40+ by the end of the year. This triangles pattern looks confident.
There is also another assumption: MA100 is located above the valuable one and acts as a resistance, which is not a very good buy signal. Having sold this zone, there is an option to go to the support of the second large channel of ~ $ 0.5 , which will be an apocalypse for the entire cryptocurrency market and then we can expect massive cleaning in the market, many will not survive in this state of affairs.
I am inclined to consider the first scenario more likely, but I could not afford to not consider the second.
Share your thoughts, ideas about the market under the chart.
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