XRP/BTC - 150-500% potential growth in mid-term
Since Ripple breakout, the major uptrend line in the mid of August this trend line turns into the resistance line. A few weeks ago XRP broke it up and this was a clear sign that he's preparing for a trend reversal. Besides this trend line breakup, we also noticed other bullish signs on the chart such as moving averages which are making some golden crosses. Today XRP is moving above 20,50 and 100 moving average which is a good sign for further development.
Two days ago XRP has dropped due to the BTC bull run and it was quite interesting to see how low he can go. Because XRP bounces directly from the trend line which represents a major support line at the moment, I believe this is another bullish sign for future development.
If you trade this idea don't forget to put a stop loss which should be below the uptrend line around 3150-3180 sats. Mid-term targets are mentioned on the chart.
Two days ago XRP has dropped due to the BTC bull run and it was quite interesting to see how low he can go. Because XRP bounces directly from the trend line which represents a major support line at the moment, I believe this is another bullish sign for future development.
If you trade this idea don't forget to put a stop loss which should be below the uptrend line around 3150-3180 sats. Mid-term targets are mentioned on the chart.
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Today’s daily time frame update :-)
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After weekly close this was happened:
