I own Ripple, I am very bullish on Ripple for the long term. However, this chart looks like a possible buying opportunity is appraoching to scoop more of this up for around 15 cents. A Descending Triangle needs a couple things to be a solid breakout trade.
1. Volume that is moving up, not down
2. In order for the Triangle to be a Continuation Pattern, it should at least form as part of an Uptrend or Downtrend, this formed off of sideways trading and some random crazy volume.
If you look at XRPUSD's volume, it looks like randomness. there is no trend to the volume, Perhaps we will see another burst of high Volume here and it breaks to the upside only for large traders to sucker us into buying so they can dump there shares on us only to buy them back up again at .15 cents. Time will tell, I hope I am wrong and this takes off, but I am not buying into anything more than 15 cents at this point.
1. Volume that is moving up, not down
2. In order for the Triangle to be a Continuation Pattern, it should at least form as part of an Uptrend or Downtrend, this formed off of sideways trading and some random crazy volume.
If you look at XRPUSD's volume, it looks like randomness. there is no trend to the volume, Perhaps we will see another burst of high Volume here and it breaks to the upside only for large traders to sucker us into buying so they can dump there shares on us only to buy them back up again at .15 cents. Time will tell, I hope I am wrong and this takes off, but I am not buying into anything more than 15 cents at this point.