đXRP is an interesting asset that many people associate with pleasant memories...
đ§on higher timeframes the priority is strictly bullish.
đ§Over the last 10-12 days, whales have been buying up tons of XRP, which is confirmed by the metrics.
đ§Whale activity often leads to strong growth of the asset.
We know about the showdown between Ripple and the SEC, the litigation had a strong impact on the asset and practically turned it into a stable, many have already buried it, not believing that it would ever go beyond the boundaries of its accumulation. So, Ripple won the court, and this in turn had a very positive effect on the coin, on the price and, most importantly, on the potential, because now nothing is pressing the asset to the bottom and we can quite count on exiting the long-term accumulation. And the whales' purchases only confirm the picture. The growth here can be very strong and very fast, the desired $ 2 for many now can not be said to be an inflated target, rather underestimated. đ
đMeanwhile, a bearish wedge is forming on the chart, I marked it with a dotted line. Many people are now worried, but not all technical analysis patterns work, it is important to take into account other types of analysis. Let's say, on the weekly timeframe we do not have a wedge, but a massive symmetrical triangle, where the price tends to break through the upper trend... And the breakout of which can give a significant acceleration of the price, at least to the zones of $ 0.763 (1.618 according to Fibonacci) and $ 0.85.đ
âĄïžI also highlighted the key resistance on the chart, consider that as soon as the price consolidates above, there will be no turning back. Yes, now the price is getting a small rollback from it, so I kindly highlighted the magnetic zone on the chart from which you can try to gain positions if the price drops there. đČ
P.s. Whales bought 470,000,000 XRP ($300 million)
