XRP has seen some strong bullish candles over the last couple of hours. At the moment, XRP is on the verge of breaking out of the channel, potentially signaling a new bullish trend.
Before entering this trade I'd advise waiting for confirmation of a break out. Higher time frames yield a higher predicting power.
In case of the price failing to break out, expect XRP to fall down to the lower support line of the channel.
In case of a legitimate break out I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs and round numbers. Do your own due diligence.
Happy trading!
Before entering this trade I'd advise waiting for confirmation of a break out. Higher time frames yield a higher predicting power.
In case of the price failing to break out, expect XRP to fall down to the lower support line of the channel.
In case of a legitimate break out I’ve marked two potential areas of resistance, R1 and R2. These areas are based on recent swing highs and round numbers. Do your own due diligence.
Happy trading!
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