Hello, dear TradingView members.
This is an XRP idea.
XRP made a 12% pump, and right now, it's rejected and stopped by the resistance levels.
There are two support levels on the way down and two resistance levels on the way up, holding the price.
As you can see, the Bollinger Bands are starting to squeeze back in, which is a sign of the market getting calmer and moving sideways again.
There are two scenarios in the current situation:
Scenario One:
After a while of moving sideways, the price will reach the local support and get pumped once more to get to the higher resistance levels.
Scenario Two:
The price will get rejected by resistance and fall back to the half-shadow support levels.
RSI is near the overbought area, and the price has more room to go down.
Now let's see your ideas. Let's have a discussion.
Let me know if you guys have any questions;
I will be more than happy to help.
Good luck, and thank you.
This is an XRP idea.
XRP made a 12% pump, and right now, it's rejected and stopped by the resistance levels.
There are two support levels on the way down and two resistance levels on the way up, holding the price.
As you can see, the Bollinger Bands are starting to squeeze back in, which is a sign of the market getting calmer and moving sideways again.
There are two scenarios in the current situation:
Scenario One:
After a while of moving sideways, the price will reach the local support and get pumped once more to get to the higher resistance levels.
Scenario Two:
The price will get rejected by resistance and fall back to the half-shadow support levels.
RSI is near the overbought area, and the price has more room to go down.
Now let's see your ideas. Let's have a discussion.
Let me know if you guys have any questions;
I will be more than happy to help.
Good luck, and thank you.
