LegionQ8

Ripple can rise to resistance level and try to break it

Long
BINANCE:XRPUSDT   XRP / TetherUS
Hello traders, I want share with you my opinion about Ripple. Looking at the chart, we can see how the price some days ago broke the 0.6900 resistance level, which coincided with the seller zone, and started to trades in the range. Inside range, XRP firstly declined to 0.5900 current resistance level, which coincided with the resistance area, after which it rebounded and made an upward impulse to the seller zone. But the price at once turned around and in a short time declined back to the 0.5900 level, making a fake breakout. Then Ripple bounced from this level and tried to rise, but failed and made a strong downward impulse to the support line, thereby exiting from range and breaking the 0.5900 level. After this, the price at once rebounded from the support line and rose to the resistance area, even rose higher than the resistance level, but recently XRP declined back, making a fake breakout. Now price trades near the support line and I think that Ripple can bounce from the support line and rise to the resistance level and try to break it. After the breakout, XRP will make a retest of this level and continue to move up. So, that's why I set my target at the 0.6300 level. Please share this idea with your friends and click Boost 🚀

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