Trend and Pattern Analysis for XRP Amidst Bitcoin's Potential Bull Trap Bitcoin's recent surge towards a new ATH has sparked considerable excitement and speculation in the cryptocurrency market. This has pulled back a little and showed some weakness. Amidst this fervor, investors are wary of a potential bull trap or an 'exit pump', where prices inflate briefly...
Looking at possible scenarios for a large price move. Testing some trend lines and circle geometries to identify areas of confluence.
Waiting for move to upside in XRP. Sellers couldn't push down to new local lows so expecting moves up soon. Also looks like equities could have a bit of pullback next week or 2. Maybe crypto will rally some then return to a pullback and equities return back to bull moves
XRP Time for a retrace? Seems to be moving in a downward wedge. Expecting to break through shortly to upside. Maybe a retrace of 61.8-78.6% (targets 68c-70c) of the recent move a week ago that saw 74c hit. Then possible visit down to 55-50c?
Some geometry testing in the XRP charts. Upside looks like incoming very soon.
Gann Box Test Idea on XRP. I eyeballed the time price ratio and fitted a Gann Square to it to see how price action may play out once it moves past the first resistance arc. Some food for thought and a test.
XRP Daily resistance/ trend line. Can it break through and close over? Or is a fall incoming? Im bullish bias
What next for XRP? A local resistance line was finally breached then the price fell below again. Another breach and successful close/s over will be bullish
After some consolidation between 49c and 52c XRP we come to another resistance line...time for some movement?
XRP another leg up? Looking at the recent run-up and the last few days of consolidation up looks next. Food for thought