XRP in Overbought Conditions: Just Be Careful

17 de jan.

XRP in Overbought Conditions: Just Be Careful

XRP is nearing the completion of a bearish harmonic pattern. I am sharing this analysis as a warning that it could potentially move down from this zone.

It's a very risky assumption because the entire crypto market is focused on the Trump Inauguration. However, considering this pattern, we cannot ignore it, at least to consider taking partial profits or being cautious about any possible crash and taking further steps.

It is not recommended to sell if you believe it may continue to rise, but it's better to know where the price may react.

XRP found a strong resistance zone between 3.5 - 3.53. The price may test the entire zone and could also take a pause before this pattern shows bearish signs.

If the bearish correction begins, it may unfold as shown in the chart.

You can find more details in the chart.
Thank you!

20 de jan.

Trade ativo

XRP - Target_1 Reached.
Be careful as it may move down again. The pattern is intact. This time is very much related to Trump's decisions, so all movements are possible. However, it is not bad if you pay attention to this pattern as well.

3 de fev.

Trade fechado: objetivo atingido