The price of XRP has had a massive price boost of 21%, in little over one day. This unsustainable behavior was marked by a long zone of overbought RSI levels.
After the price finally hit a temporary top, space was created for a healthy retracement. This is something very reasonable after such a boost.
Now, we find ourselves in this ascending channel. The RSI had the opportunity to cool down a little bit and we see a slow upward trend for XRP again.
I expect that it is preparing for another volatile move upwards. It might first wander around the channel a little bit, but once the price breaks out you need to start paying serious attention or use a crypto scanner to get notified.
There are two ways in which you can trade this channel. First of all, you can wait for the price to retrace to the lower areas of the channel and go in for a LONG position.
Second of all, you can keep an eye on the resistance and once the price starts breaking out, you can monetize the volatile bullish scenario.
Personally, I try to keep using the rules of buy low sell high, so I would not want to buy after a series of green candles. I recommend waiting for the price to drop a bit further and then hold the price until breakout.
Follow me for consistent high quality updates, with clear explanations and charts.
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- Trading Guru
--------------------------------------------------------------
Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
After the price finally hit a temporary top, space was created for a healthy retracement. This is something very reasonable after such a boost.
Now, we find ourselves in this ascending channel. The RSI had the opportunity to cool down a little bit and we see a slow upward trend for XRP again.
I expect that it is preparing for another volatile move upwards. It might first wander around the channel a little bit, but once the price breaks out you need to start paying serious attention or use a crypto scanner to get notified.
There are two ways in which you can trade this channel. First of all, you can wait for the price to retrace to the lower areas of the channel and go in for a LONG position.
Second of all, you can keep an eye on the resistance and once the price starts breaking out, you can monetize the volatile bullish scenario.
Personally, I try to keep using the rules of buy low sell high, so I would not want to buy after a series of green candles. I recommend waiting for the price to drop a bit further and then hold the price until breakout.
Follow me for consistent high quality updates, with clear explanations and charts.
Please like this post to support me.
- Trading Guru
--------------------------------------------------------------
Disclaimer!
This post does not provide financial advice. It is for educational purposes only!
노트
I decided to update this idea and move to a more conservative channel instead. Follow my new idea here: 
Free crypto scanner on Telegram (35k members):
t.me/CryptoScanner100eyes
t.me/CryptoScanner100eyes
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
Free crypto scanner on Telegram (35k members):
t.me/CryptoScanner100eyes
t.me/CryptoScanner100eyes
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.