Hi there. It is good to see our XRP break-out expectations were confirmed after a couple of hours of our analysis yesterday. So let's have a quick update where we are in a smaller time frame of 4 Hours (4H).
XRP Break-Out in 4H and Daily Time Frames
XRP found her support on $0.30, as we analysed it in detail yesterday, and the break-out came as expected.
A 15% increase in the price led the RSI to the overbought area in 4 Hours Time Frame. However, we can expect to move towards $0.43 shortly and have the correction afterwards.
The correction here will be the retest line on the orange Resistance, where XRP has broken and will work as a support at $0.35 with the subject retest.
Summary
XRP had support @ $0.3 and used this support towards the $0.43 area. Above this $0.43 are, we need to stay at least 2-3 days to discuss our expected $0.66 move.
As always, Important Note: None of the targets represented here is financial advice. Do your research in due diligence and take responsibility for your actions when buying or selling an instrument.
Have an excellent weekend!