XRP Seeking $2.48 Zone From Crucial Structure Dating Back To 2017

As you can see here, XRP is currently playing around in a very historically volatile zone on the weekly chart.

At the very beginning of this chart you can see that this structure was first created from an old XRP all time high, after rallying from under a penny to over $0.40.

Then, becomes an early 2018 bear market support level.

After flipping old XRP all time high to support after being a resistance, it then flips back to being a resistance level again which caused XRP to tremendously struggle breaking the $0.30 zone throughout a big portion of the 2018 bear market

But here is where things get interesting. This critical old 2017 all time high level paved the way for an XRP breakout to $2.00/coin.

Now this same level that we bashed through to reach a $2.00 yearly high, is now serving as a potential double-bottom zone for XRP to reclaim those old yearly highs, which would be the continuation of the pattern of repeatedly flipping from support to resistance.

And you can clearly see the gigantic gap (when the market moves completely vertical in one direction) which could be used a quick liquidity grab for the big boys of this market. Billions of dollars of leveraged trades contain stop losses all through out this gap which would make it an easy liquidity grab for some of the crypto whales.

The market will always fill gaps, because this is where the liquidity is sitting. Waiting to be grabbed.

This is what we at the XRP Daily are predicting for next several months for XRP price action, while we are pending a Ripple victory against the SEC which could be a huge catalyst for the XRP train to start moving again. We are seeing $2.50 range based on the fact that we are playing at a VERY CRUCIAL level, in which, big movements have happened before here many times throughout the last 5 years of XRP history.

XRP price has been beaten down for too long, short sellers are getting greedy, its time to wipe them out. Huge gaps are waiting to be grabbed by the market, and we could essentially see a short squeeze play out.

MARKETS WILL ALWAYS FILL GAPS

If we secure this double bottom here, we have confirmation to have a good chance at reaching all time high XRP prices again.