Food for thought on XRP and new trends
XRP has an interesting setup. The falling wedge has brought XRP back to the 0.786 lines, which is more than what I expected. It may be, though, that the momentum needed to break over the Ascending Triangle formation was enough to kill the momentum of the bull run we experienced in the last two days.
The interesting tell seems to be the angle of the potential support that was formed by the initial burst. If I have the descending triangle drawn correctly, the lower tip is touching that support.
I still believe we are due for an upward surge, even though we're likely to touch the .786 line.
The interesting tell seems to be the angle of the potential support that was formed by the initial burst. If I have the descending triangle drawn correctly, the lower tip is touching that support.
I still believe we are due for an upward surge, even though we're likely to touch the .786 line.
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