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#XRP
Previously, we hinted at the trend logic of XRP, and the profit target for the long position we provided was around 600%. Now that we have maintained a short position for a period of time, let's take a look at the current market trend.
Firstly, regarding the daily chart, it has completely broken through the previous strongest resistance level. The focus here should be more on support rather than resistance. After breaking through, the daily chart is now testing the level where resistance and support have switched places.
The current position is a symmetrical triangle, and it is highly likely to be a breakout pattern. Additionally, the current trend has just retraced to the daily support and has shown a pinbar bullish signal. We can look to buy on the dips.
Operation: Enter long at market price, directly increase position after breaking through the triangle area to go bullish, stop loss: stop loss after breaking below the ascending trend line. Just operate according to the chart.
Support and resistance swap positions: around 3.40.