Hi all. XRP continues her sideways for a very long time period. And we draw a line, as an expectation of course between 9 to 20 September for XRP not to continue this structure anymore.
Weekly Time Frame
We have discussed many times XRP in an oversold area for smaller time frames and as well as weekly time frames.
A Double Tap?
If we see above $0.31 levels and $0.40, then yes we ca call this a double bottom!
XRP has broken the $0.33 level many times both above and below it. Currently, we are under this level close to the critical $0.31. This positioning is supporting our break-out expectation.
If we see price pressure to force the price below $0.31, our Feb-22 target will be met at $0.22 which is a Fibonacci level at 23.60%. This way could also support XRP to finalize her correction for the monthly time frames.
Above $0.31 levels and especially above $0.40 will let XRP to our previous targets @ $0.66 - $0.75 levels in the very short term.
RSI Weekly Indicator
XRP was oversold around June already and RSI was higher now than it was around that day. We will watch $0.31 very closely and smaller RSI time frames to further monitor what could happen until 9 September - 20 September.
XRP will be ready for a tremendous wave in the field of cryptocurrencies after a huge correction action in 5 years!
It is crucial to keep eye on the critical $0.31 level.
Short Term Critical Levels
Resistances: $0.33, $0.41, $0.51, $0.66
Supports: $0.31, $0.28, $0.22
Mid Term Targets
Resistances: $1.96, $3.31, $13
Long Term Targets
Resistances: $30, $256
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.