Over the past few months the XRP price seems to have formed a wedge pattern. As the wedge has developed it has emerged as a falling wedge indicating the price reversal will be in the opposite direction to what we have seen recently.
Once the price breaks above the upper trend line it will signal a breakout to a higher price and rally. The wedge has lasted a while, narrowing into a smaller and smaller price area helping with anticipating when then it will eventually breakout.
This could be a chance to make trades before the breakout which seems to be on the horizon over the next 10 days. For the risk averse its better to wait until the actual breakout occurs than to speculate on when it will happen.
Consider taking a long trade, and shy away from short trades.
Remember, this is only my view shared as an idea, and you should trade only on your own reasoning not mine!
Good luck and happy trading ;)
Once the price breaks above the upper trend line it will signal a breakout to a higher price and rally. The wedge has lasted a while, narrowing into a smaller and smaller price area helping with anticipating when then it will eventually breakout.
This could be a chance to make trades before the breakout which seems to be on the horizon over the next 10 days. For the risk averse its better to wait until the actual breakout occurs than to speculate on when it will happen.
Consider taking a long trade, and shy away from short trades.
Remember, this is only my view shared as an idea, and you should trade only on your own reasoning not mine!
Good luck and happy trading ;)
Lucky call or good analysis, you tell me?