Ripple (XRP) Price Analysis: very very bullish buy now
Over the last three days, Ripple (XRP) has made a very strong upward move breaking out of an asymmetric triangle pattern that had been forming since early June 2017.
We pointed out this technical analysis setup in our last analysis of Ripple.
The price action has all the textbook characteristics of a classic triangle breakout.
Within the triangle pattern price approached the upper resistance trendline four times, and the lower support trend line five time over a period of about six months.
The breakout to the upside seemed almost inevitable, and was very predictable.
The breakout took place at $.27759 on December 12th, and traded up with very strong volume to a high of $.88268 on December 14th, an increase of about 218%.
The Daily chart below (Chart #1) shows the triangle pattern, and the subsequent breakout.
Target is unpredictable
Thank you for Information!!!
I've been watching Ripple, very nice. Plus I love the cheap coins, they have lots of room to grow like crazy.
Thanks for posting.
Cheers
Good post
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