XRP has some upside ground to cover before it creates the next downside dump.
I would like to see a push into the prior order block highs before continuation into the level marked, as illustrated.
I assume the majority of people would be selling from this break and retest at the current price but I'm sure the market will do some manipulating before the true...
From what I can see price has broken its recent resistance area and has now come down to retest support.. We could be looking for a big move to the upside
Analysis 🔎: XRPUSDT is consolidating in a symmetrical triangle pattern.
Breakout is imminent.
Bullish ⬆️: breakout above the symmetrical triangle's inclined resistance.
Bearish ⬇️: breakdown below the symmetrical triangle's inclined support.
Possible breakout price actions are indicated by the arrows on the chart.
Targets 🎯: horizontal S/R levels.
XRP has formed a Cup and Handle bottoming formation with the handle as a distorted falling wedge (probably due to bitcoin movements and market uncertainty. Strength is coming in and looks set to make a rally to previous ATH. Targeting $2.50+ short term with longer term target much higher
XRP is currently bouncing off the lower trend line. It broke down from the ascending triangle with bitcoin dumping but looks to be holding here. Bitcoin retraced to the 618 fib level so looks good to long again.
XRPUSDT is consolidating in a symmetrical triangle pattern.
Breakout is imminent.
Bullish ⬆️ - breakout above the symmetrical triangle's inclined resistance.
Bearish ⬇️ - breakdown below the the symmetrical triangle's inclined support.
Possible price actions are indicated on the chart.
I am biased on this trade because Ripple Inc. faced a major sue from SEC. If all goes well in court scenario 1 might happen soon, if all goes bad, scenario 2 will occur. Keep a watch on that Ripple
SEC news absolutely nuked XRP
My two theories, have a building bear flag so may get a little upside wave followed by a greater downside wave
Or it drops and finds support at 0.24 where it could from a flat bottom triangle - would be quite bullish for XRP
If that level is lost though I think there will be heavy buyers at 0.20 but I would still stay away as it won't...
Lawsuit news has been a huge player in the massive 25% downside move today
Not even 0.46 could save the day
But 0.3 has so far
Now this level has so far succeeded means we could move up to higher highs as hadn't been filled since we broke a good month ago now
Selling pressure thanks to the lawsuit stops any strong moves up till we get some clarification - expect...
Trading suggestion:
". There is a possibility of temporary retracement to suggested support line (0.5656).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. XRPUSDT is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic...
