From the previous article, XRP forms a 4H TF ascending channel.
The previous article mentioned that XRP tries to break through the weekly resistance, and failed. XRP comes to the lower edge of the ascending channel.
It is also the lowest edge of the EMA ribbon. Getting support at the meet-up point of trend line and Ema ribbon, where we have recommended to open a long position there, and until today's profit on spot is about 6%.
Pay close attention to the 4H Fibonacci 1.382 0.31350, it can be the short-term goal, which may encounter the upper trend line resistance of the ascending channel.
After breakthrough the resistance of the trend line, the long-term target can be the weekly Fibonacci 0.382 0.32887, where is also the 4H Fibonacci resistance 1.618, we may encounter a strong rebound, pay close attention to whether there is a reversal pattern appear or not.
The recent event to watch, now is Ripple's annual Swell conference, held on November 7-8 this year.
The past history, there was a wave of rising prices in the two to three weeks before the Swell conference will be held.
This year is the third Swell conference. In the past the Swell 2017 conference, XRP price has risen by 64%.
In the half month before Swell 2018, XRP has risen by 115%.
Now it is already three weeks before this year's Swell conference.
Please pay close attention to the XRP trend in the next three weeks and have the opportunity to drive a new wave of bull markets of XRP.
The previous article mentioned that XRP tries to break through the weekly resistance, and failed. XRP comes to the lower edge of the ascending channel.
It is also the lowest edge of the EMA ribbon. Getting support at the meet-up point of trend line and Ema ribbon, where we have recommended to open a long position there, and until today's profit on spot is about 6%.
Pay close attention to the 4H Fibonacci 1.382 0.31350, it can be the short-term goal, which may encounter the upper trend line resistance of the ascending channel.
After breakthrough the resistance of the trend line, the long-term target can be the weekly Fibonacci 0.382 0.32887, where is also the 4H Fibonacci resistance 1.618, we may encounter a strong rebound, pay close attention to whether there is a reversal pattern appear or not.
The recent event to watch, now is Ripple's annual Swell conference, held on November 7-8 this year.
The past history, there was a wave of rising prices in the two to three weeks before the Swell conference will be held.
This year is the third Swell conference. In the past the Swell 2017 conference, XRP price has risen by 64%.
In the half month before Swell 2018, XRP has risen by 115%.
Now it is already three weeks before this year's Swell conference.
Please pay close attention to the XRP trend in the next three weeks and have the opportunity to drive a new wave of bull markets of XRP.