XRP has the potential to see a 30% move up!
XRP has been idle in the range from $0.23 to $0.25 for a while, what we need ideally is to break the $0.25 level with a full daily candle.
The reason I like to analyze XRP is that when it goes up after sideways "action" it rises pretty steeply!
Currently, the XRP chart looks good to publish as today may be the first day of the MACD daily buying wave (still not closed) and the price has peeked almost to $0.26!
How to trade this?
You can either buy XRP, sit on it and Sell it below $0.32 or make an alert on the chart and buy the breakout!
If the uptrend line breaks, that would also mean 200MA breaks would make this setup invalid, otherwise, feel free to get into XRP!
Popular investor calls XRP a “confirmed scam”
A well-known cryptocurrency investor who goes by the name “Crypto Bitlord” has allegedly sold all their XRP holdings. The investor claimed that the cryptocurrency is a “confirmed scam.” Ripple, the company behind XRP, is laden with many controversies. The firm presently holds more than half of the total XRP supply. This, according to most observers, is the reason why the price has been moving horizontally. Ripple has also been accused of intentionally suppressing XRP's price.
Crypto Bitlord is popularly known for starting a petition back in 2019, asking Ripple to stop dumping on investors. In a recent tweet, they called XRP a “confirmed scam.” They explained that they realized this after watching Ripple dump on the market for several years.
XRP/USD has been trending in a bearish flag pattern and has encountered resistance at the SMA 20 curve. As of now, the price is consolidating under the $0.25-level, before it goes through a bearish breakout. If the price does break below the flag, it will probably drop down till the $0.24 support line. However, it is highly doubtful if XRP will actually go through such a sharp movement.
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