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The XRP has dropped about 8% in the last 24 hours, following the epic trait of last week. The price currently stands at 52 cents, according to the latest data on CoinMarketCap.
Remember that when we get these shots back, the only thing that can invalidate any kind of upward movement would be an invalidation of this support zone of 45 cents.
From here, we could create an upward triangle if the price is 50 cents, as mentioned above. Or a bullish flag pattern – if we test slightly lower, starting at 45 cents.
While MACD is going through the daily, keep in mind that we have a weekly bullish MACD cross, which is very bullish. I'm anticipating that XRP will not be able to beat 45 cents on the downside, and we'll get a $ 1 run.
If we look at the volume profile, we can see that as soon as we break the 60 cents, we have room for maneuver.
Happy toying,
Sherem
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