Hey! Before I start again feel free to leave a like and follow which is always appreciated. In our last Idea/post from yesterday we pointed out how XRP seemed to be in a possibly reversal pattern even forming that wedge which as we are looking at now this morning, seems to be almost finished.
🌠As with technical trading, usually when you get to these points where a coin or crypto is trying to break above a certain zone or threshold which in our current case is, your gonna find a lot of resistance such as the resistance we come across whenever we enter that sideways channel or try to break above $040. Now a decisive factor usually in these cases then is what the wedge pattern is closing on. We can see how the wedge of XRP seems to be almost finally closing and usually it's around these where you'll see some pretty interesting if not wild price action as whales and bulls fight to close above or below the wedge which will help set a stage for how things play out next.
✨So expect within the next few hours a pretty dramatic move on behalf of XRP once this wedge closes. So far it's not too bad since we did form a higher high nearly getting to 0.39 before that rejection kicked in but a higher high is a good indication though with a wedge close like this I edge a lot of caution. As we've seen time and time again, MM's will kick in that manipulation and essentially could cause XRP to 'leave the mountain' as I refer to it, cause our EMA's to flip and that would essentially cause another drop for us down below the wedge and back on a bearish track. So keep that heavily in mind as in these cases they usually like to surprise traders towards the wedge close. I've also put arrows to simplify things, above the wedge it's nice and positive, below it'll be bearish less we break up again towards that channel but with each move down below and away from that channel we lose investor confidence so we need things to keep strong.
🔥As always keep posted for those necessary important and concise updates and ideas! Feel free to leave a like and follow as always and check out my previous Ideas/posts for more depth/detail and without further a due have a great day! And as I've got to note, if your looking for your XRP Analyst, that's me right here! Thank you and keep well!
~ Rock
🌠As with technical trading, usually when you get to these points where a coin or crypto is trying to break above a certain zone or threshold which in our current case is, your gonna find a lot of resistance such as the resistance we come across whenever we enter that sideways channel or try to break above $040. Now a decisive factor usually in these cases then is what the wedge pattern is closing on. We can see how the wedge of XRP seems to be almost finally closing and usually it's around these where you'll see some pretty interesting if not wild price action as whales and bulls fight to close above or below the wedge which will help set a stage for how things play out next.
✨So expect within the next few hours a pretty dramatic move on behalf of XRP once this wedge closes. So far it's not too bad since we did form a higher high nearly getting to 0.39 before that rejection kicked in but a higher high is a good indication though with a wedge close like this I edge a lot of caution. As we've seen time and time again, MM's will kick in that manipulation and essentially could cause XRP to 'leave the mountain' as I refer to it, cause our EMA's to flip and that would essentially cause another drop for us down below the wedge and back on a bearish track. So keep that heavily in mind as in these cases they usually like to surprise traders towards the wedge close. I've also put arrows to simplify things, above the wedge it's nice and positive, below it'll be bearish less we break up again towards that channel but with each move down below and away from that channel we lose investor confidence so we need things to keep strong.
🔥As always keep posted for those necessary important and concise updates and ideas! Feel free to leave a like and follow as always and check out my previous Ideas/posts for more depth/detail and without further a due have a great day! And as I've got to note, if your looking for your XRP Analyst, that's me right here! Thank you and keep well!
~ Rock
