Hey! In one of our recent previous XRP Ideas we noted the descending channel that XRP was stuck within overall on the 45m timeframe and surprise surprise! Not only did we get that reversal we called out before but got a full on breakout that has pushed us out of that descending channel!
☄️In our last post we noted that things we're going to be volatile this week and I also noted that it seemed like whales and MM's were trying to push XRP back on to a positive track which they have done! But not without any trouble of course that is We can clearly see how there's a whale or at least a few that don't want to see us break/push forth with them pushing us at 0.43 and 0.42 with those large sell orders. So we know it won't be easy to keep above the descending channel let alone out of it but if we do manage to do that and sustain support above that 0.40 benchmark then it's bullish. But definitely watch for some volatile price action as we'll likely get strong pressure to fall back into that descending channel this week as the market in general gets pulled back down from it's short rally towards the end of last week. Though that could also differ as BTC seems to be decoupling from the market but I'll save that for another post that I'll be making soon on the market's decoupling.
💥I'm gonna leave things here and as always keep them simplified but if we fall back within that descending channel then our next target to watch will be 0.39 where our sideways channel starts to kick into play but of course we ultimately want XRP to stay out of that zone and that would definitely signal more bullish action to come. We managed to find one bit of support at 0.40 that has brought us back up to 0.41 currently but if we get pulled back below that 0.40 mark or our EMA's flip then that'll definitely be bearish as well as likely will pull us back into that descending pattern but again we definitely don't want to see that and we want to see that support above 0.40 continue. Keep posted for more to come as I keep you guys posted on updates and how things are looking!
And as always feel free to follow and each and every like helps push me to improve and better my Idea's post by post and helps me reach out to more of you guys and help this amazing community we've got. I've been a trader for 2 years, and I don't see that ending anytime soon, so feel free to follow and join not only my, but our journey as we dive in to this amazing space and market! If your looking for an analyst, I'm the one for you!
~ Rock
☄️In our last post we noted that things we're going to be volatile this week and I also noted that it seemed like whales and MM's were trying to push XRP back on to a positive track which they have done! But not without any trouble of course that is We can clearly see how there's a whale or at least a few that don't want to see us break/push forth with them pushing us at 0.43 and 0.42 with those large sell orders. So we know it won't be easy to keep above the descending channel let alone out of it but if we do manage to do that and sustain support above that 0.40 benchmark then it's bullish. But definitely watch for some volatile price action as we'll likely get strong pressure to fall back into that descending channel this week as the market in general gets pulled back down from it's short rally towards the end of last week. Though that could also differ as BTC seems to be decoupling from the market but I'll save that for another post that I'll be making soon on the market's decoupling.
💥I'm gonna leave things here and as always keep them simplified but if we fall back within that descending channel then our next target to watch will be 0.39 where our sideways channel starts to kick into play but of course we ultimately want XRP to stay out of that zone and that would definitely signal more bullish action to come. We managed to find one bit of support at 0.40 that has brought us back up to 0.41 currently but if we get pulled back below that 0.40 mark or our EMA's flip then that'll definitely be bearish as well as likely will pull us back into that descending pattern but again we definitely don't want to see that and we want to see that support above 0.40 continue. Keep posted for more to come as I keep you guys posted on updates and how things are looking!
And as always feel free to follow and each and every like helps push me to improve and better my Idea's post by post and helps me reach out to more of you guys and help this amazing community we've got. I've been a trader for 2 years, and I don't see that ending anytime soon, so feel free to follow and join not only my, but our journey as we dive in to this amazing space and market! If your looking for an analyst, I'm the one for you!
~ Rock
