After XRP breaking out from the bullish pennant and the retest of the symmetrical triangle line XRP is looking for a breakout of the 50 cents, which has represented itself as a huge hurdle. I have charted a five wave Elliot structure that projects the price to end up somewhere in the 80 cent range in the following weeks. If XRP surpasses 50 cents, things should gain sufficient volume and as such higher volatility. If we, however, cannot surpass the 50 cent levels in the next 2 or 3 days its likely that XRP will revisit the 30 cents.
Comment:
seems to be retesting support of the fib level, hopefully, leading to higher prices
Comment:
bullish hammer candle developing
Trade closed: target reached:
trendline held, need to see if it builds a bear flag now, cant make predictions
Comment:
Held at fib level, but seems to be making another bear flag. I would advise staying out of the market for now. Eager ones can risk an entry point now.