XRP for the case of this particular trader I think it will have a great relevance, because the trader thinks that he can reach a price greater than 100% from now on, particularly this analyst is very optimistic, actually much more than several authors of some articles like cointelegraph, in this case it shows the following:
The third coin on Smart Contracter’s list is Ripple’s native asset XRP, which he says is about the break its diagonal resistance and ignite a huge 100% rally to $2.75 from its current value of $1.37.
“The standard is about to do something retarded I can feel it.”
This trader only goes to the single system of speculation and investment, for he does not take into account the problem that the SEC demand represents, is it better to take things like that? XRP has incredible potential. Will the new president of the SEC surrender to these eventual prices? maybe what they are doing is driving the price of XRP instead of sinking it.
Cant really blame off with those other traders or investors out there which do heavily relying with technicals and some mix of self intuition and guts when making out their trading decisions
and without looking into some fundamentals is a bit crazy to do so but well its up to someone if he doesnt mind those current issues on where XRP is facing on but if we do tend to look
up then lucky for those who bought on the dip when the news had explode out but things went well after that and dont know whats behind about xrp pump too.
Seeing on the image above then its already on descending triangle and there would be a breakout but the direction?
Well in the short term it can be seen that it can go in a decreasing direction, because obviously BTC has grown by 4% and ETH by 2%, but XRP has decreased by 2%, which means that it is very likely that in the short term the This scenario is bearish, but we must not anticipate, there is an indication if BTC lowers its dominance further, this would greatly favor all the alts, this would help XRP a lot.
Despite the decline, XRP is trading above yesterday's minimum levels, which means that short-term growth is more likely than a drop. Thus, the selling trading volume remains low. All in all, the nearest resistance at $1.59 is the main target for bulls for the upcoming days.
Source:
https://u.today/btc-eth-xrp-and-doge-price-analysis-for-may-12