The monthly XRP chart remains structurally constructive despite last week’s sharp withdrawal, according to an independent drawing technician (@chartingguy), who claims that assets are “not the least of a bear”. His latest one -month XRP/USD chart on Bitstamp, shot on October 14, shows a price that defends a large Fibonacci support cluster, while repeatedly examined the resistance on the previous maximum of all time.
XRP Bull runs to $ 26 still possible?
On the current monthly candle, XRP is traded at $ 2,4477, and it remains 17 days and 10 hours in the period after printing open at $ 2,8467, $ 3,1037 high and low at $ 1,5800, which is a drop of 14.0% per month. The rejection zone is precise: the horizontal line indicates 1,000 Fibonacci’s diverting to $ 3,3170, which is aligned with the top of the cycle 2018, and the last few peaks in 2025, the chart includes a belt 0.888, which is approximately $ 2.96.
Under the price, Confluenza is being built on the former shelves for fracture from a rush of 2021. The lime-green box highlights an area of $ 1.60 to $ 1.80, directly overlapping from 0.786 cutter to $ 1,6125 and at the top of the 2021 congestion. This band captured a deep Wick up to $ 1.58 last week, and he served as a rejection area in the previous months. The next support staircase below marked 0.702 at $ 1,2149, $ 0.618 at $ 0.9153, and 0.500 at $ 0.6149, a demarcation of a clear hierarchy if the market sees further volatility.
Associated reading
The bull expansion frame in the appearance to draw a Guy is unambiguous. Above high time at $ 3,3170, the chart showed a consecutive expansion of Fibonacci’s target at $ 1.272 = 8,2961 USD, $ 1,414 = 13.3894 USD, and $ 1,618 = 26.6304 USD. These levels change the classic path of a measured movement to continue trends after the price has reached a decisive, high time frame closes through the previous top. In other words, the pathway map remains intact as long as the monthly structure is still held above the beam of 0.786 and eventually transferred the ATH to support.
The market structure remains supportive
The pairs of analysts drawn with the wider market are read. “There are so many (many) caught in the daily price action,” he announced on X, adding that a total of 2, a total of 3 and the top Altcoins (ETH, XRP, Sol), each “have another key fiber to overcome … their previous at. In its XRP view, that “another key fib” is a threshold of $ 3,3170.
Associated reading
Tehnički gledano, postavljanje je binarno i dobro definirano u mjesečnom vremenskom okviru: Nastavak obrana od 1,60 do 1,80 dolara održava netaknutu više nisku strukturu uzgojne niske, dok bi trajna pauza i zatvorila iznad 3,3170 dolara potvrdila sljedeću nogu prema 261,3,30 USD, a i——————————————————————————ciklus ambicioznog ambitious ambitious ambitious ambittable ambitious rental. For now, XRP remains a range below the ATH, but supported by the same zones that started its last breakthrough, just as it shows the chart chart.
At the time of the press, XRP traded in the amount of $ 2,4655.
Sepaled image created with dall.e, chart with traditionview.com
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