Ripple XRP - battle for middle Earth

Updated

There are a lot of ideas about a bullish flag / pennant forming for XRP, however at a closer look the lower edge never touches the pole of the "flag" thus it is only the trendline resistance line (even so, with great extent). Based on the other indicators, like RSI, MACD as well as the market depth and the fundamentals behind XRP, I would be saying short. But, since in this crazy market we never know, I would stay out until one or the other confirms. Not much left I think, so enjoy watching !

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Here we go ... first stop $0.68
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with the picture as well :)

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At $0.68 it will also touch the lower Bollinger Band, thus it will be very interesting to watch what happens there. In theory, it should bounce back, to form the "squeeze". Let`s see

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Very nice "crawling" under the trend line ... still a lot of indecision in the market, waiting probably for Asia to wake up and see - short or another small bullish run

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A new higher low at $0.717 formed a much more clear trend line support; however, still doesn`t touch the "pole" so can`t confirm the pennant. But, market depth is accumulating on both sides, so anything is possible yet kids don`t seem to wanna` play yet:

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I just spotted a small hidden bearish divergence, lower highs for the price but higher highs for RSI which should confirm the continuation of the down-trend:

Order cancelled

I will close this idea as I came with another more clear one IMHO

XRP Ripple - possible triangle formations

Haceru

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