📈 XRP AND THE ASCENDING CHANNEL 📈
🔥 Hey hey, hope everyone's having a chill night, wanted to come through with a quick late night post on XRP and our ascending channel.
🔥 In the last idea we added this descending channel, that ended up pulling XRP down and hitting support at 0.492, I haven't added any horizontal levels so price is still adhering to the levels. So with everything that's happened we've got the local low of 0.492 and that high of 0.55. I've set alerts for those two points for reference.
🔥 I've added two horizontal channels as well as two defined black lines with labels to highlight, point out our ascending channel that's formed the past couple days, gives us some reference and insight onto what's happened, what we're looking at.
🔥 Personally, I would recommend adding in the ascending channel, drawings, can help us keep track of things, especially being that we're at this crossroad now with that 200 EMA, we've already had one slip down into the horizontal channel below. Should we end up losing that 200 EMA and reenter the channel I'll be watching the ascending channel's support line. If we lose that, chances are good that we'll continue further. Should that happen I'll look to the horizontal levels and 0.492 for support if we end up really falling.
🔥 I'll end the idea here for now, said it'd be a quick one and that's that, at least now we have some things we can use and refer to for reference and keeping an eye on things. It's been a positive week though for XRP alongside the S&P and a lot of the market so I'm looking forward to see how things play out this week, especially with the SEC's approval today of Ethereum ETF's in a historic push for crypto!
🔥 Thanks for joining me as always, I appreciate you guys so much and wish nothing but the best till next, thanks for keeping tuned!
Best regards,
~ Rock '
🔥 In the last idea we added this descending channel, that ended up pulling XRP down and hitting support at 0.492, I haven't added any horizontal levels so price is still adhering to the levels. So with everything that's happened we've got the local low of 0.492 and that high of 0.55. I've set alerts for those two points for reference.
🔥 I've added two horizontal channels as well as two defined black lines with labels to highlight, point out our ascending channel that's formed the past couple days, gives us some reference and insight onto what's happened, what we're looking at.
🔥 Personally, I would recommend adding in the ascending channel, drawings, can help us keep track of things, especially being that we're at this crossroad now with that 200 EMA, we've already had one slip down into the horizontal channel below. Should we end up losing that 200 EMA and reenter the channel I'll be watching the ascending channel's support line. If we lose that, chances are good that we'll continue further. Should that happen I'll look to the horizontal levels and 0.492 for support if we end up really falling.
🔥 I'll end the idea here for now, said it'd be a quick one and that's that, at least now we have some things we can use and refer to for reference and keeping an eye on things. It's been a positive week though for XRP alongside the S&P and a lot of the market so I'm looking forward to see how things play out this week, especially with the SEC's approval today of Ethereum ETF's in a historic push for crypto!
🔥 Thanks for joining me as always, I appreciate you guys so much and wish nothing but the best till next, thanks for keeping tuned!
Best regards,
~ Rock '
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