XRPUSD BEARS BACK IN ACTIONLast year August, Down to November and January this year, i bagged XRPUSD using a swing trading strategy, i am not a moon fan, so i did not get in on the Bull run rather i was waiting for entry to retest my sell zone and here we are 2 months later, price seem ready for action and bears are about to take over... ignore social media noise if you trust my analysis and bag with proper risk management..
I wish everyone a successful month ahead, this trade could last for weeks, so bag without FOMO. stay STUCKINPROFIT
Xrpusdidea
XRP/USD LONG SET UP (HODL)(UPDATE)XRP LONG SET UP
Support: $0.83500/$0.80500/$0.78500/ $0.7460/ $0.72500/ $0.68500/ $0.64500-$0.62500
Resistance: $0.8500/ $0.88500/ $0.92500/ $1.0300/ $1.14500/ $1.29500/ $1.48500/ $1.68500/$1.74500/
XRP price has momentum building for a bullish breakout
XRP price already looked ready for a breakout on Thursday, but the tail risk of Biden being in europe for several meetings around Ukraine weighed on bull’s appetite to perform. Instead, XRP price is continuing its consolidation with lower highs and higher lows as buyers and sellers are pushed towards each other. It is just a matter of time before a breakout happens, and expect that to be in theform of a rally as global markets, particularly the Nasdaq, are on a winning streak that should provide additional support to XRP.
Ripple price will face first $0.8791 on its breakout, a historic pivot level that goes back to the end of November.
It bears specific importance as on previous occasions, the candles have either broken through it quite clearly, or each time only the wick of the candle made it through,
but the actual body of the candle was unable to either close or open above or below it.
From there, the jump to make is not that far anymore towards $0.90, with the 200-day SMA just above at $0.9090.
MAJOR NEWS CAN CAUSE A PULLBACK
XRPUSD -Daily chart prediction on Feb 2021XRPUSD on the daily chart. Previously predicted bearish movement hit aound $0.55 at the supply zone and bounce back up to around $0.9. Now price predicted to make another dip to hit another demand zone and make Lower Low (ref to chart). It based on Weekly candle that are now seems like rejecting market price at current supply zone (ref to weekly chart-you will see it clearly).
But, if price able to break the weekly supply zone, price might be able to create new higher high. Look at the large flag pattern on daily/week chart - price will go higher than that.
***Just for sharing opinion based on supply n demand strategies, not financial advice. ***