XRP/USD Heavy Trading Volume Blocks The Way To MOON AREA

In this idea I will go into XRP/USD and use technical analysis to highlight the most important aspects of XRP right now. Both through the volume profile and heavy trading zone we can see some interesting behavior.

Let's start with the horizontal support zone at the bottom. This area got confirmed multiple times, showing it's strength. After the latest confirmation, a long trade seems like the only wise idea. I don't expect the price to fall below this zone for a while.

Then, let's look at the volume profile and the heavy trading zone. There's two things that stand out. First of all the ~30 cents level is incredibly important to XRP. Possibly showing signs of psychological support and resistance. Second of all, trading in this area will generate a lot of trading volume and might slow down price movements and thus volatility. However, if the price ever breaks through such area, we might expect some mooning potential as the price is free to continue after leaving the bears behind in that zone.

We've seen this happening before already at the area I marked with a break-out. The price grew by 8% within just a few hours!

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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!