XRP/BTC: Bullish Breakout Technical Analysis
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In this post, we’ll be taking a technical approach in analyzing the notorious cryptocurrency: XRP
– XRP has been consolidating within a descending on the
– It broke out of the formation, and is undergoing a phase of pullback
– Prices are currently trading below the 20 ( )
– We are also seeing resistance near the 0.236 resistance, where it converges with the resistance
– However, the ( ) shows signs of bullishness, as it has broken out of the long term descending resistance
– What’s worth noting for XRP’s is the Moving Average Convergence Divergence ( )
– The price history demonstrates that there has been big breakouts after the formation of a golden cross of the
– As such, we could anticipate a breakout to take place once again
– On the shorter time frame, the 4 hour chart demonstrates a pattern, with prices looking to break out imminently
Don’t predict the market. The future is all about preparation, not prediction. Take it by levels, and play by probabilities.