Based on this simple chart, XRPBTC is trying to break a slant resistance.
Based on my beliefs, slant resistance lines are less significant than horizontal resistance lines. But, it is still resistance that XRPBTC will have to overcome, and it is there right now.
Once that is broken, XRPBTC must break 0.00004177. If it does that, it can go as high as 0.00011750, which gives XRP around a $7.50 target factoring in the current price of Bitcoin.
Overall, I am still very bullish on XRPBTC (and XRPUSD). If it does not power through the slant resistance, it may retrace to lower $1.xx in the coming weeks, and eventually power through it.
It can also break it immediately in the next few days, and I lean towards this possibility in this current bullish environment.
Based on my beliefs, slant resistance lines are less significant than horizontal resistance lines. But, it is still resistance that XRPBTC will have to overcome, and it is there right now.
Once that is broken, XRPBTC must break 0.00004177. If it does that, it can go as high as 0.00011750, which gives XRP around a $7.50 target factoring in the current price of Bitcoin.
Overall, I am still very bullish on XRPBTC (and XRPUSD). If it does not power through the slant resistance, it may retrace to lower $1.xx in the coming weeks, and eventually power through it.
It can also break it immediately in the next few days, and I lean towards this possibility in this current bullish environment.
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