XRPUSDT in its 12-hour chart reveals the completion of a corrective structure that began on June 18th when the price action bottomed at 0.2872. The rejection developed by XRP at 0.5590 on September 23rd when the price tested the dynamic resistance corresponding to the ascending channel projection carries us to expect a new decline with a potential target in the 0.45 zone or the top-line of the ascending channel highlighted.
On the other hand, the trend-timing indicator supports the bearish bias of the Primary trend which remains intact while the price action remains below the 0.6803 level.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.