This is a Day chart of XRP/BTC in Binance and this is my simple Technical Analysis:
after a bullish week and after a breakout from the bullish pennant pattern, another bullish pennant pattern is materializing from the breakout this means another breakout or bull run may occur for XRP and we are hoping for this.
I plotted the bullish pennant pattern following its rule and the breakout leg is the same length as the next breakout leg and as you can see, the breakout leg length exactly plots at the next Fibonacci level which is 38.2% (0.0001138 area) this will be my target price before a retracement or bounce may happen, from its price now which is at 0.00008950 area up to 0.0001130 area is a lot of gain. Another good thing is that the RSI is from a low slowly going up but the price is very much faster going up this means its price movement is really strong. The MACD is above the zero line and is consolidating there, its volume increases and is very good by now. We just hope that this indicators will hold and if it holds or gain more we must expect a bullish movement for XRP
Legal disclaimer: I am not a financial adviser nor any content in this article is a financial advice, buy and trade at your own risks. my analysis is based on my view using technical analysis and market behavior.
this post is for the #steemitpowerupph community and the crypto community.