XRP H&S reversal to retest long-term resistance before moon
Right now, XRP is on the wrong-side of the ascending channel it was in for the last few weeks and meeting resistance to get back in the channel @ ~$0.2932. If we can't get a daily close above that today, we're likely to form right shoulder of H&S on our way down to retest long-term resistance that we busted through last week, probably down to ~$0.2350-$0.2400 by the time the H&S completes. Once this previous long-term resistance is confirmed as support, we will be ready for launch, just in time for SWELL!
If we get back in the channel, target is ~$0.3250 in next wave up.
Not financial advice.
If we get back in the channel, target is ~$0.3250 in next wave up.
Not financial advice.
Comment:
First TGT reached @ $0.2650
Comment:
Watch for BTC rebound to test $7.8k and XRP to re-test $0.28 and if they reject we'll hit second target for XRP below $0.235 (possibly that $0.19-$0.22 range) and BTC ~$6.5k.
Comment:
Technically, XRP has now back-tested it's previous long-term resistance @ $0.25 on the daily (I said was @ $0.235 in the text above because I assumed it would take a little longer to get there). So, keeping that in mind, we've officially confirmed that previous long-term resistance as support, so we don't need, from a technical standpoint, to do anything else for continuation higher.
Comment:
Right shoulder forming
Targets are $0.265 and $0.235