ðĨ XRP 10-Month Pennant Break Out: Bullish Price Action Expected
Over the course of the last 10 months, XRP has been trading inside a pennant pattern.
As seen on the chart, the price is currently finding some resistance near the pennant's resistance. With the current market outlook being fairly bullish, I'm expecting the break out to find some follow-through in the coming days.
Be aware that we can trade around the $1.25 for a while. Most bearish case would be for the price to fall back to the pattern support around $1, but this would require a strong bearish move from BTC as well.
Main target is placed at $1.4, second at $1.65.
Happy trading!
As seen on the chart, the price is currently finding some resistance near the pennant's resistance. With the current market outlook being fairly bullish, I'm expecting the break out to find some follow-through in the coming days.
Be aware that we can trade around the $1.25 for a while. Most bearish case would be for the price to fall back to the pattern support around $1, but this would require a strong bearish move from BTC as well.
Main target is placed at $1.4, second at $1.65.
Happy trading!
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