Xrp retrace to 0.37 before further bullish push
Xrp has broken out of the channel it has been traveling in since February and is now rejecting entering back into the downward channel. This is the first bullish indication of a bullish sentiment and a possible reversal in the trend. Volume has increased quickly in the month of September and is holding up well going into the first half of October.
Looking for the following week, we should pay attention to the volume and overral market cap being added/subtracted from the market. During the short term trend reversals, billions are pulled from the market. A pullback to 0.37 looks to be the direction we will be heading before further pushing through resistance. If btc recovers over the next few days, look for xrp to follow. If xrp falls through 0.37 we should look for support around 0.27
I am anticipating a few more weeks of consolidation between 0.37 and 0.50. This doesn’t mean xrp won’t have small intraday pumps, but until I notice increasing market cap and heavy support at higher price levels, further consolidation.
The last short term down trend has had 2 waves with retracements of .618, if we resist those levels, and break down under 0.37 look for 0.32 support before all-time-low support levels.
This is my personal opinion, this is not investment advice, invest at your own risk and good luck trading
Xrp current price 0.412
Completed 6:33pm Los Angeles
Looking for the following week, we should pay attention to the volume and overral market cap being added/subtracted from the market. During the short term trend reversals, billions are pulled from the market. A pullback to 0.37 looks to be the direction we will be heading before further pushing through resistance. If btc recovers over the next few days, look for xrp to follow. If xrp falls through 0.37 we should look for support around 0.27
I am anticipating a few more weeks of consolidation between 0.37 and 0.50. This doesn’t mean xrp won’t have small intraday pumps, but until I notice increasing market cap and heavy support at higher price levels, further consolidation.
The last short term down trend has had 2 waves with retracements of .618, if we resist those levels, and break down under 0.37 look for 0.32 support before all-time-low support levels.
This is my personal opinion, this is not investment advice, invest at your own risk and good luck trading
Xrp current price 0.412
Completed 6:33pm Los Angeles
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