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With XRP sitting at the pennants resistance line this is make or break, with this pattern forming we could see a decline down towards $2.08 which is the pennants support as we can see from 3 previous retests. I don’t feel as if we’re posed for a breakout before Trumps term or the SEC case update. BTC is still looking bearish and looks like it could decline back down to $91,000 region.
Watch the horizontal support from previous low, if this support doesn’t breakdown then a breakout is on the horizon, we could see quite a sharp bounce.
I don’t see a breakout on the horizon yet but who knows, I could be wrong.
I am going to be taking a short position with a tight stop loss for this.