XRP is trapped inside a wedge / pennant /flag and is also squeezed betwen the 200 EMA and the 50 EMA .
Interestingly if we look at the daily time frame the price is above the 50 EMA and below the 200 EMA but if we switch to the H4 time frame the price is above the 200 EMA but below the 50 EMA .
So what does this potentially mean?
The 200 EMA on the H4 time frame is strong support and suggests that price will climb from current levels and take out the 50 EMA .
SHould it do that then we should see the price on the daily time frame take out the 200 EMA which it did last week but couldn’t stay there.
Overall the picture looks BULLISH and I expect XRP to head north from these levels.
There are barriers ahead but if the price can take out the 200EMA on the daily then I expect price to break north of the flag and this could be an explosive move.
this could open up a path to the 1.0000 handle over the next few days and weeks.