XRP FORMING A FALLING WEDGE? +40% OR A FAILED FORMATION?
Updated
Good afternoon ladies and gents. Today I bring to you a XRP/USDT chart on Binance. On a daily chart I see a falling wedge forming? Correct me if im wrong but these bad boys break upwards, sometimes. BTC/XRP pairing is known for going against each other as one rises and pushes the other down, well, today we are not talking about BTC. Rather, XRP has been losing value on LOW volume, that tells me theres a bullish move incoming in my opinion, again, correct me if I'm wrong.
A Falling wedge. The falling wedge pattern is characterized by a chart pattern which forms when the market makes lower lows and lower highs with a contracting range. When this pattern is found in a downward trend, it is considered a reversal pattern, as the contraction of the range indicates the downtrend is losing steam.
XRP has been quite boring in price action and its due for an impulse move to the downside or to the upside, if you were to ask me, Im longing this, set stops accordingly to your risk reward ratio liking! GG to all traders!
Entry: .2950 - .3150
Target: .4107 - .4242
A Falling wedge. The falling wedge pattern is characterized by a chart pattern which forms when the market makes lower lows and lower highs with a contracting range. When this pattern is found in a downward trend, it is considered a reversal pattern, as the contraction of the range indicates the downtrend is losing steam.
XRP has been quite boring in price action and its due for an impulse move to the downside or to the upside, if you were to ask me, Im longing this, set stops accordingly to your risk reward ratio liking! GG to all traders!
Entry: .2950 - .3150
Target: .4107 - .4242
Note
I also see this forming, placing buy bids from .22 - .25 wouldn't be a bad idea Note
We should see some action in about 3 days, will XRP run bullish or fail?Note
XRP just spiked 13% today, GG traders, we plunged to 28 cents and shot back up to 32 cents, lets see how this week plays out! Good trade, i hope you guys were in it!
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