Hi there all. XRP proceeded in line with our expectations so far. We were checking the 4 Hour time frame for a while and today, I wanted you to focus on the weekly candles.
Weekly Time Frame
We discussed that in daily charts XRP was squeezed between $0.32 and $0.33. And we have broken $0.33 and touched $0.38 while the majority was expecting another dip.
A weekly candle close above $0.35853 is the key to the to$0.66 level. Why? Because we will have the next resistance level close to that point if XRP breaks ~0.36 (shown with the orange resistance line) which is also in line with the Fibonacci levels. (Light blue horizontal lines)
Flash-back to 4 Hour time Frame
Below is the chart we analyzed XRP after breaking $0.3333 and testing $0.35853 by touching $0.38.
RSI in Weekly Time Frame
RSI in a weekly time frame indicates a reversal to the upper levels from the bottom which is positive. The first Weekly RSI resistance is broken and 2nd one is upcoming and yet to be broken.
So XRP at the moment is expected to proceed to the second line. Breaking this area will bring us $0.66 and this will possibly be extended to $0.84.
Weekly Candle should close above $0.35853 for XRP to clear the way for $0.66-$0.84. As long as the monthly also turned into positive, XRP's sight will be cleared for new all-time highs.
As always, Important Note: None of the targets represented here is financial advice. Do your research in due diligence and take responsibility for your decisions & actions when buying or selling an instrument.