Technical analysis by moreno34 about Symbol XRP: Buy recommendation (12/7/2024)

-Could see XRP reach all time high's here, we are currently in a descending triangle pattern testing the 4h 50ema (price seems to pullback to the 20&50ema's on the 4h and continue to the upside)-Could either play this at the break out and play to the blue zone (or keep adding to your long term position) -If you do not want to play this aggressively you could wait for a break and re/test of the 1h 50ema or fib levels, however price could easily continue to break straight to the upside with no pullback -This is a long shot but price could be forming an ascending triangle on the 1h, we would need much more for this.Ended up taking this trade long with a wide stop loss only 1% risk since it was not the cleanest trade but I really like the 4H how we reject the 20/50 ema's. target is $3, could possibly be a 20% trade so I feel it was well worth the risk. Good to note I also have long term money in this trade I took 4 years ago. If we get to $3 ill take my 20% profit!