XRP MONDAY UPDATE 9.30.19: PATTERN BREAK
Updated
Good morning all!
If you have been following us on XRP we were expecting a break from the rising triangle but did not see any decisive volume over the weekend. This morning the decision came at the tip of the falling wedge after revisiting as support. We have just hit the upper limits of this recent move since bottoming at $0.21, however if bullish consolidation occurs here and move up it could reach the 0.618 as mentioned in previous posts or even get to the 100% retrace.
15 minute chart price formed a bull flag at the top of the wedge before shooting up.
1H chart we see price just under the falling wedge after moving sideways out of the rising triangle.
1D chart we had discussed the possibility of this similar triangle pattern playing out once more and has now done so to its fullest extent. Whether XRP continues to move up will depend on the market as a whole. BTC is the governing factor here and should be watched closely.
If you have been following us on XRP we were expecting a break from the rising triangle but did not see any decisive volume over the weekend. This morning the decision came at the tip of the falling wedge after revisiting as support. We have just hit the upper limits of this recent move since bottoming at $0.21, however if bullish consolidation occurs here and move up it could reach the 0.618 as mentioned in previous posts or even get to the 100% retrace.
15 minute chart price formed a bull flag at the top of the wedge before shooting up.
1H chart we see price just under the falling wedge after moving sideways out of the rising triangle.
1D chart we had discussed the possibility of this similar triangle pattern playing out once more and has now done so to its fullest extent. Whether XRP continues to move up will depend on the market as a whole. BTC is the governing factor here and should be watched closely.
Note
ZOOMED OUT 4 H CHART
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