Hi there all. As we have discussed earlier, XRP has successfully broken the initial resistance back in the summer.
Previously on XRP / ETH
Let's above analysis zoomed-in below and discuss what XRP did by breaking the initial resistance:
On 15-Jun-22 we have seen a clear break-out of the 1st resistance and a journey to the main Resistance since 2019
1. Current XRP/ETH Update in Weekly Time Frame
Updated below chart indicates we XRP/ETH pair touched the major line as we expected 5 months back and rejected from major resistance.
With this structure, the pair is above the Ichimoku Clouds which is a bullish indication as well as had a re-test completed with the previous orange resistance line.
RSI higher lows continue to grow and when we combine this position with Ichimoku we can clearly expect XRP/ETH will soon try to break the main resistance.
2. XRP/ETH Wave Trend Indicator, Weekly Time Frame
We received the green signal last week where this is the 3rd indicator positive in addition to the RSI and Ichimoku Clouds.
XRP considering these structures is ready to flip Ethereum over and this is only a matter of time. But what does this break means?
If XRP/ETH pair reaches its same level in 2019, the current 1 ETH equal to $1,200 will be equal to $44 XRP when completing the flip over.
As always, I'd like to point out that none of the targets represented on defenddark.net and defenddark.com is financial advice. The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a duly licensed professional for investment advice.