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Long

XRPUSD | W1 | BULLISH — The beginning of the end?

BITFINEX:XRPUSD   XRP / U.S. Dollar
Analysis –
XRPUSD | W1 | BULLISH

The market is currently at an important key level,

Ripple is one of our favourite coins due to it’s practicality; it’s functionality and appliance to today’s society with implementation in financial institutions – catalysing, and offering a more efficient network to transact money.

At the same time this is a very simple analysis.
In terms of behavioural analysis price has formed a bearish pennant ;

This typically means that price shall breakout with bearish momentum—yet the supporting trendline has failed to be, and also NEVER been broken.
Price is currently in accumulation / a demand zone – it is inevitable(?) that price shall explode regaining control by the bulls.

Please do not expect this to be the inauguration of the next “bull run” however. Price shall only increase with stabilisation & sustainability; longevity requires trust and the intricacy of market sentiment.

This analysis also offence confluence in terms of a positive correlation coefficient to a bullish BTC .

This is a simple analysis on what we should expect to happen in a normal market – yet, this isn’t a normal market and within the infancy of cryptocurrency it’s only normal to expect unprecedented volatility .

Please note this is not financial advise.
Thank you.
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