Hey, hope you guys are doing well and wishing the best as always, it's been a busy morning but always here for you guys! If you'd like leave a like and follow if you felt I gave you some insight or even helped as anything is always appreciated and simply helps me even more to continue doing what I love!
⚡️XRP is still trading within those trend lines we marked out in yesterday's Idea in the blue with XRP almost kinda looking like it's prepping to jump up once it exits out of the bearish channel it's stuck within right now. The dotted red lines on the graph show those pivot points/important thresholds we're gonna have to deal with so kinda get the idea that whenever we hit one it'll be a big movement regardless. At that 0.30, that's our new last line of defense right now being as we haven't seen anything below 0.30 cents and we'll likely drop pretty significantly if we do go below that or we'll see some strong buy pressure kick in trying to prevent us from falling further much like we've seen before at crucial low levels.
⚡️XRP is out of that descending channel already and more than likely it'll be trying to pull itself back into that so it can at least be moving in some organized way, not to mention when we entered below that 0.30 point we immediately got pulled back up so MM's and whales def are trying to help avoid us from falling further. Even bitcoin hit 20k and is already back at 22k so we know that stuff's not exactly still going down, but we're also wondering what's next? We are in the phase of hesitance for most of the market but keep in mind at moments like these we'll see some strong reversals or large moves hit as MM's take advantage but even as the market seems to be getting hit by harsher news by the day it seems like. On top of that a lot of the crypto market is wondering if regulations are gonna hit hit this year as XRP deals with it's lawsuit still and Celsius' dropping the ball on pausing all withdrawals fueling the digital markets freefall.
⚡️Basically just watch our dotted red at 0.30 for price action. If we move below that it'll be a big drop more then likely without strong buy pressure and it's looking like our EMA lines are starting to come back together so sooner than later we may see them flip and see that big reversal hit alongside that breakout from the current bearish channel we're in if we can break and sustain above the top blue trend mark. Otherwise if we see another rejection at the top of the bearish channel then we should see the crypto move back down and likely break through that 0.30 mark as a result of the failed attempt if it can't break out of the bearish channel this time as it'll be our third try/attempt.
Hope the idea wasn't too long, if you felt this gave some insight or even helped a bit be sure to leave a like and follow as it always helps push me to do what makes me happy, thank you!
~ Rock
⚡️XRP is still trading within those trend lines we marked out in yesterday's Idea in the blue with XRP almost kinda looking like it's prepping to jump up once it exits out of the bearish channel it's stuck within right now. The dotted red lines on the graph show those pivot points/important thresholds we're gonna have to deal with so kinda get the idea that whenever we hit one it'll be a big movement regardless. At that 0.30, that's our new last line of defense right now being as we haven't seen anything below 0.30 cents and we'll likely drop pretty significantly if we do go below that or we'll see some strong buy pressure kick in trying to prevent us from falling further much like we've seen before at crucial low levels.
⚡️XRP is out of that descending channel already and more than likely it'll be trying to pull itself back into that so it can at least be moving in some organized way, not to mention when we entered below that 0.30 point we immediately got pulled back up so MM's and whales def are trying to help avoid us from falling further. Even bitcoin hit 20k and is already back at 22k so we know that stuff's not exactly still going down, but we're also wondering what's next? We are in the phase of hesitance for most of the market but keep in mind at moments like these we'll see some strong reversals or large moves hit as MM's take advantage but even as the market seems to be getting hit by harsher news by the day it seems like. On top of that a lot of the crypto market is wondering if regulations are gonna hit hit this year as XRP deals with it's lawsuit still and Celsius' dropping the ball on pausing all withdrawals fueling the digital markets freefall.
⚡️Basically just watch our dotted red at 0.30 for price action. If we move below that it'll be a big drop more then likely without strong buy pressure and it's looking like our EMA lines are starting to come back together so sooner than later we may see them flip and see that big reversal hit alongside that breakout from the current bearish channel we're in if we can break and sustain above the top blue trend mark. Otherwise if we see another rejection at the top of the bearish channel then we should see the crypto move back down and likely break through that 0.30 mark as a result of the failed attempt if it can't break out of the bearish channel this time as it'll be our third try/attempt.
Hope the idea wasn't too long, if you felt this gave some insight or even helped a bit be sure to leave a like and follow as it always helps push me to do what makes me happy, thank you!
~ Rock
