Hi Friends,
I was looking at the chart of XRP/BNB and found an opportunity for the XRP to breakout its resistance point so I though to get a short analysis done and share with my fellow Leofinance community.
Here is my resistance line and the crypto is currently trading at its resistance point (0.0022).
Source: https://www.binance.com/en/trade/XRP_BNB?layout=pro
In my opinion, we should wait for the resistance breakout to occur and after a short correction back to the previous resistance (0.22) which will be its new support line, we will have an opportunity to go long with the first target price of 0.0028.
MACD and RSI are also positioned in good position of trend reversal and breakout is highly expected. Let's see what happens!
Legal Disclaimer: I am not a financial advisor and never give advise to take any trade. The purpose of the analysis is for information only and you have to do your own working before taking any trade. I will not be responsible under any circumstances for any kind of loss.
Best of Luck!