JL_WealthandLoyalty

**CRYPTO** XRP/USD

Clearly we are still in a down trend with the structure being held by the supporting Lower Lows and Lower Highs (red highlighted LL+LH) :(..... How ever the current price within the counter trend is at quite an interesting point, after being pulled back above/up to support and back into the counter trends channel where the next Higher High is looking to be above the $0.25 region (resistance). If the price stabilises at that price range and retests the trend line which it broke to get there we could see a significant push up to the $0.26 level and beyond to the $0.29 region where we would see if the current downtrend will be held by forming another Lower High then descending or just consolidate momentarily to gain the momentum to push through the $0.315 region and form a new Higher High signalling a possible and long anticipated trend reversal. I would watch any non long term positions with XRP for the moment as within the price range of $0.2218 and $0.25 there is what looks to be a left shoulder and head formed so obviously its possible for a right shoulder to form and the bears pull the price back through the channel....
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.