XRP has been one of the poorer performing higher market cap crypto assets for 2019, when compared to the other crypto heavy weights. However based on historic performance, when this sleeping giant does eventually awaken, it moves at the speed of light.
XRP has very strong resistance at $0.30, and has failed to successfully close above this level for a number of months. Recently it does seem to be testing this resistance ceiling multiple times, and is also appearing to be within an ascending triangle when analysing the daily chart. Coupled with this chart pattern, Ripple's annual Swell event is also scheduled for 7- 8 Nov and in previous years, XRP has seen significant abrupt price appreciation leading up-to annual Swell events. Based on this, is it possible that we may actually see a significant breakout to the upside this week - it may be a good case of buying the rumour and selling the news.
XRP has very strong resistance at $0.30, and has failed to successfully close above this level for a number of months. Recently it does seem to be testing this resistance ceiling multiple times, and is also appearing to be within an ascending triangle when analysing the daily chart. Coupled with this chart pattern, Ripple's annual Swell event is also scheduled for 7- 8 Nov and in previous years, XRP has seen significant abrupt price appreciation leading up-to annual Swell events. Based on this, is it possible that we may actually see a significant breakout to the upside this week - it may be a good case of buying the rumour and selling the news.