Different support and resistance levels and SMAs:
On the weekly time frame chart price action of XRP is getting bounced by the $0.60 support level and recently it has broken out 70 cents resistanc. At the same time the price action has also bounced from the 50 simple moving average support on the weekly time frame. Now the next resistance will be a $0.80 and at the same level there is also 25 simple moving average resistance as well, then there will be $1 and $1.70 resistance levels respectively.
Double bottom:
On the small time frame 2-hourly chart, the price action is also forming a double bottom as well. Previously the priceline formed a bottom on 1st August and now recently the priceline of XRP is testing the same bottom again, which is at $0.70.
Harmonic moves:
on the 2-hourly chart the price action has also formed a bullish BAT pattern as well and entered the potential reversal zone.
On the weekly time frame, the XRP has formed a big bullish Gartley for a big move. There is also 50 simple moving average support in the buying zone and 50 SMA below the buying zone.
Buying and sell targets as per this pattern can be as below:
Buy between: $0.8586 to $0.5573
Sell between: $1.09 to $1.66
The maximum extent of the potential reversal zone to $0.5573 can be used as stop loss. As per the above targets, this trade has a profit possibility up to 195%.
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You can also support my work at Patreon for more ideas:
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In order to play and watch the current performance of the chart you need at least a free account on tradingview:
https://www.tradingview.com/gopro/?share_your_love=moon333
KuCoin is one of the best exchange to find crypto gems:
https://www.kucoin.com/ucenter/signup?rcode=rJSDVT3
Link for Binance exchange, to trade crypto:
https://www.binance.com/?ref=11256882
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
