Ripple XRP Bullish Wedge inside of a Big Triangle
Looks like XRP' is moving inside of a bullish wedge now, just like we did a month ago. During the weekend XRP' lost it's support of the bull flag in has been dropping since, but the drops have slowed down again. So it could be it has become a wedge because of it. Bitcoin' is also still on a sideways path, moving in a big bull flag now, but the low volume there is a bit dangerous as well.
When looking at XRP' now, it could be intentional though, something i did not think the past 2 days. But since alts are still decent the past days, there is a chance again for things to work out.
On the left we can also see what looks like a big triangle. So a test of the low is also one of the options if the wedge fails. If the green support on the left breaks, it could mean the long term bear trend will resume again towards new lows. But for now, lets see if the bullish wedge works out or not. The channel on the right can also show the way for the coming hours. If the market is very strong, it will break up, but usually upwards channels break down. So it will be a sign of the strength on the short term.
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Previous analysis:
When looking at XRP' now, it could be intentional though, something i did not think the past 2 days. But since alts are still decent the past days, there is a chance again for things to work out.
On the left we can also see what looks like a big triangle. So a test of the low is also one of the options if the wedge fails. If the green support on the left breaks, it could mean the long term bear trend will resume again towards new lows. But for now, lets see if the bullish wedge works out or not. The channel on the right can also show the way for the coming hours. If the market is very strong, it will break up, but usually upwards channels break down. So it will be a sign of the strength on the short term.
Please don't forget to like if you appreciate this
Previous analysis:
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