XRP has been consolidating below $0.6 for almost two years.
The current weekly candle is not really impressive when comparing XRP with other big cap cryptos. However, this candle would be a start for future big moves. Indeed, the long-term trendline since May 2021 seems to be broken very soon. The trendline of volume indicator CMF is also being broken.
My plan was to accumulate XRP around $0.5-$0.6 (or any lower dips) and take profit at mid-term (starting from $1.6) and long-term target (around $5).
Disclaimer:
This analysis is based on my personnal views and is not a financial advice. Risk is under your control.
---- About XRP ----
XRP is a digital currency commonly associated with Ripple Labs, a technology company focused on providing solutions for cross-border payments. XRP serves as a bridge currency in the Ripple network, facilitating the transfer of value between different fiat currencies or other cryptocurrencies in a fast and cost-effective manner. It's often used by financial institutions and payment providers for remittances and other cross-border transactions due to its efficient settlement times and low transaction fees.
Comment:
XRP starts moving with a 20% daily candle (today). Both prices and volume indicators (CMF) broke their trendline. A good break-out.
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XRP prices are still in my accumulation area
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Quite a static crypto and it's welknown for this.
I bought at $0.6 and forget about it. Will comeback in some/many months.
I bought at $0.6 and forget about it. Will comeback in some/many months.
Comment:
XRP is still in BUY AREA