XRP still in a broad trading range, dominance may break down 2%

9 de nov. de 2021

XRPUSDT
XRP still in a broad trading range, dominance may break down 2% soon.
1. XRP drop down from ATH(1.97) on Apr 14, get double bottom support at 0.51, then retrace to 0.618 at 1.42. Now it's in a broad trading range between 0.88 and 1.42.
2. In the recent 8 week, it makes a HH and HL, which forms a slightly uptrend channel that both bulls and bears respect.
3. It also get support twice from short term Vegas tunnel, say ema144 and ema169, which may attract "Vegas" traders join the bulls for the next time.
4. XRP dominance % is in a decrease triangle pattern, now is about to break down 2%
5. As a conclusion, XRP is likely to continue up and down in the trading range. 1.42 will be the next major resistent level for bulls.