ðĨ XRP TRYING TO LEAVE BEARISH PATTERN! URGENT IDEA ðĨ
Hey guys! Before I start as always if you find this idea to be helpful, insightful, or anything else for that matter please be sure to leave a like and follow as it always pushes me to keep doing my best and simply what I enjoy. thank you!
âĄïļAnyway this is gonna be a follow up to yesterday's Idea which is linked below if you would like to read that which always helps people get a better understanding and connect moves! We've added a few new markers in today's idea but first let's start off with what's set. In our previous Ideas we added the new marking of the blue line noting that it would be our new bearish channel/is basically a new descending channel only it's a bit steeper than our main/long term descending channel. I noted that if we exited the channel it would help us to possibly see some good movement out of the channel and an upward push as the price action reacts.
âĄïļWe've added a new possibly sideways channel that could be forming at this level/be a new resistance zone which stops at 0.32 though we still have yet to stay below that Last line of Defence which we added in the previous Ideas as well and has still stuck true to it's marking. The market doesn't wanna stay below that, it's simply not great at all and whales are doing what they can as well to keep it out buying Millions to pull us back up as you can see thanks to those massive volume bars! So guys don't worry, we do indeed have support on our team, MM's don't wanna see XRP fall like that, and neither do we!
âĄïļYou can see we had a small mountain fall happen which is what caused us to see that large drop to 0.29 before the coin was pulled back up and given a big life raft that keeps getting thrown at us when we move below that 0.30 mark. So keep that in mind now, if we see a point where we do indeed fall below 0.39 again, and instead of getting that support from our whales, they decide to sit back, we'll see a drop precede as bears will definitely try their best to sink things and without support or aid we'll definitely see a drop to the possibly 0.25's even though it all depends on just how dramatic today's FED rate decision is. The market is in silent mode right now standing by simply waiting to see how aggressive the FED will be to determine what it wants to do and if it's higher than a 75 BP rate hike we could see some serious serious selling happen across the market so you guys better be ready and keep watch.
âĄïļThe Fed's rate hike decision will come out today at 2 pm Eastern Time but that's likely why the market's being so sideways and mostly just waiting on that big move. I wanna call out though very important that on the 5 minute timeframes XRP has formed a third new low since the 13th for that current peak we're on and just barely managed to enter that sideways channel this time so whatever happens this next swing is gonna be good to watch.
Hope that helps for now you guys but definitely just keep an eye as it seems bears are definitely trying to keep us within this new bearish pattern but we've also got that bull whale that helps support us so it's a battle of the two for now to definitely keep watch of. Thank you guys and I hope you have a great day! And remember if you'd like feel free to leave a like or follow to keep posted on the news you need, when you need it. and as always be sure to do your own DD as well and trade responsibly! Thank you
~ Rock
âĄïļAnyway this is gonna be a follow up to yesterday's Idea which is linked below if you would like to read that which always helps people get a better understanding and connect moves! We've added a few new markers in today's idea but first let's start off with what's set. In our previous Ideas we added the new marking of the blue line noting that it would be our new bearish channel/is basically a new descending channel only it's a bit steeper than our main/long term descending channel. I noted that if we exited the channel it would help us to possibly see some good movement out of the channel and an upward push as the price action reacts.
âĄïļWe've added a new possibly sideways channel that could be forming at this level/be a new resistance zone which stops at 0.32 though we still have yet to stay below that Last line of Defence which we added in the previous Ideas as well and has still stuck true to it's marking. The market doesn't wanna stay below that, it's simply not great at all and whales are doing what they can as well to keep it out buying Millions to pull us back up as you can see thanks to those massive volume bars! So guys don't worry, we do indeed have support on our team, MM's don't wanna see XRP fall like that, and neither do we!
âĄïļYou can see we had a small mountain fall happen which is what caused us to see that large drop to 0.29 before the coin was pulled back up and given a big life raft that keeps getting thrown at us when we move below that 0.30 mark. So keep that in mind now, if we see a point where we do indeed fall below 0.39 again, and instead of getting that support from our whales, they decide to sit back, we'll see a drop precede as bears will definitely try their best to sink things and without support or aid we'll definitely see a drop to the possibly 0.25's even though it all depends on just how dramatic today's FED rate decision is. The market is in silent mode right now standing by simply waiting to see how aggressive the FED will be to determine what it wants to do and if it's higher than a 75 BP rate hike we could see some serious serious selling happen across the market so you guys better be ready and keep watch.
âĄïļThe Fed's rate hike decision will come out today at 2 pm Eastern Time but that's likely why the market's being so sideways and mostly just waiting on that big move. I wanna call out though very important that on the 5 minute timeframes XRP has formed a third new low since the 13th for that current peak we're on and just barely managed to enter that sideways channel this time so whatever happens this next swing is gonna be good to watch.
Hope that helps for now you guys but definitely just keep an eye as it seems bears are definitely trying to keep us within this new bearish pattern but we've also got that bull whale that helps support us so it's a battle of the two for now to definitely keep watch of. Thank you guys and I hope you have a great day! And remember if you'd like feel free to leave a like or follow to keep posted on the news you need, when you need it. and as always be sure to do your own DD as well and trade responsibly! Thank you
~ Rock
