Bullish Descending Triangle
2024-12-26
Category: None

Hi there,

The price has formed a bullish-pennant on the 1-D timeframe as-well as what appears to be a bullish descending triangle. If it manages to breakout we could be looking at $3.8 heading into the New Years. The Stoch RSI has crossed on the 1-D timeframe and the RSI is also heading in that same direction which would then signal a golden cross which could signal a bullish movement. At current time of posting this the RSI sits at 54.84 to 58.79, it's coming close to forming that golden cross. Lower timeframes are looking healthy. Consolidation is essential.

The apex of the bullish descending triangle would coincidentally be around New Years Eve. The apex for the pennant is also coincidentally on the 21st January; Donald Trumps Inauguration. It seems as if it was written in the stars. Who knows what could happen and who knows, I could be awfully wrong.

With the SEC chairman being replaced and the possibility of the lawsuit being dropped XRPs future is bright and filled with ups and downs, but I will be there all the way along the journey.

Not financial advice.

Thank you for taking the time to look at my idea :)