LegionQ8

Ripple can exit from pennant, and then start to grow

Long
BINANCE:XRPUSDT   XRP / TetherUS
Hello traders, I want share with you my opinion about Ripple. Observing the chart, we can see that the price a few days ago price entered to upward channel, where it first declined to the support line, breaking the 0.5930 level, but soon rebounded back. After this, XRP reached the resistance line of the channel and then corrected, after which the price continued to move up to the 0.6400 resistance level, which coincided with the seller zone. But soon, Ripple rebounded from this level and fell to the support line of the channel, and then the price rebounded and made a strong upward impulse, higher than the 0.6400 level. Also, the price exited from the upward channel and later entered to the downward pennant, where it reached the resistance line and in a short time declined to the support level, which coincided with the support line of the pennant, breaking the 0.6400 level. Next, Ripple rebounded from this level and rose to the resistance level and tried to break it, but a not long time ago price rolled down to the support line. So, I think that Ripple can break the support line, thereby exiting from the pennant and falling a little more. After this, the price can start to move up to the resistance level. For this case, I set up my target at this level - 0.6400. Please share this idea with your friends and click Boost 🚀

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