Hi guys!! I've got something I want to share with you.
In case you didn't know, XRP, BTC and ETH and many other coins are going up right now. But we, are going to focus on XRP for today.
As you can see on the chart. The price action of XRP had a similar symmetrical triangle in the past. When it broke out, it broke out aggressively. It had a price increase of 232%.
Now, if we're going to look at the symmetrical triangle that we have right now. We can see that XRP followed almost the exact same pattern like it did back in April. I've highlighted it with the white arrows in the triangle. If XRP is going to follow approximately the same breakout, that's when we will look at the green candles that I placed above the triangle. Those green candle are just a copy of the candles from the previous breakout. Our Price target for XRP is around $2.49. That's the target of the symmetrical triangle. And if you look at the candles from the previous breakout, they have the same target. They even go beyond that.
Something else that's good to notice is that XRP is broke out in the vertex of the triangle in April. This is a good sign because it can signal an explosive move. If you look at XRP now, it also broke out of the triangle when it was trading in the vertex.
Conclusion:
XRP is following almost the same pattern. It's a currency that has great fundamentals and the charts are speaking too.
That's it for this analysis. If you think this was valuable or you agree with it, don't forget to support this idea with a like. If you think this analysis was shit, feel free to follow me.
See ya✌️
In case you didn't know, XRP, BTC and ETH and many other coins are going up right now. But we, are going to focus on XRP for today.
As you can see on the chart. The price action of XRP had a similar symmetrical triangle in the past. When it broke out, it broke out aggressively. It had a price increase of 232%.
Now, if we're going to look at the symmetrical triangle that we have right now. We can see that XRP followed almost the exact same pattern like it did back in April. I've highlighted it with the white arrows in the triangle. If XRP is going to follow approximately the same breakout, that's when we will look at the green candles that I placed above the triangle. Those green candle are just a copy of the candles from the previous breakout. Our Price target for XRP is around $2.49. That's the target of the symmetrical triangle. And if you look at the candles from the previous breakout, they have the same target. They even go beyond that.
Something else that's good to notice is that XRP is broke out in the vertex of the triangle in April. This is a good sign because it can signal an explosive move. If you look at XRP now, it also broke out of the triangle when it was trading in the vertex.
Conclusion:
XRP is following almost the same pattern. It's a currency that has great fundamentals and the charts are speaking too.
That's it for this analysis. If you think this was valuable or you agree with it, don't forget to support this idea with a like. If you think this analysis was shit, feel free to follow me.
See ya✌️