LegionQ8

Ripple can exit from triangle and continue rise to 0.6660 level

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 some days ago reached the support level, which coincided with the support area inside the upward channel and after two times it rebounded below. After this movement, Ripple turned around and in a short time rose to the resistance line of the channel, thereby breaking the 0.5680 level, but soon XRP bounced from this line and fell to the support line. Soon, the price made a strong upward impulse from this line to the resistance line, making a fake breakout of 0.5680 level and also breaking the 0.6660 level, which coincided with the seller zone. Then Ripple exited from the upward channel and rose to the resistance line of the triangle, after which it turned around and soon declined back to the 0.6660 level, broke it, and continued to decline. When the price declined to the support level, it a not long time ago rebounded and started to rise, so, I think that Ripple can reach the resistance line and break it, thereby exiting from the triangle. After this, possible that the price will make a retest and continue to rise to the resistance level. For this case, I set my target at the 0.6660 level. Please share this idea with your friends and click Boost 🚀

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