In contrary to my other post which pointed out a bullish pennant, there is also a bear flag forming on the daily chart. This does not look good for bulls since if there is a break below the flag, it may turn nasty. Hence, it is better wait out before impulsively buying solely on the bullish pennant.
Note: Not financial advice. I bring the evidence, you be the...
The bear flag formation is underlined from a strong move down, followed by a consolidation channel & a significant decrease in volume within the channel range as shown. I believe XRP could see another drop to around the 0.4 range within the next few days.
Looks short to me, I note price dropped out of the ascending trend line & appears to be trying to climb back in, but, on the 1Hr we have a nice bear flag forming and on the 4Hr we have a gravestone doji. My short target is indicated with the white arrow.@$7800.