XRP/USD - Descending triangle, expect a breakout next week!
XRP seems to have formed a large descending triangle and today we just bounced on its support.
As long as we don't fall down from this triangle, I remain bullish on us breaking out sometimes next week.
The resistance at $0.42 is keeping us down for now and I don't exclude another re-test of the support level before we can sustain a higher price.
The 4h indicators remain somewhat bearish short term, but on larger timeframe like daily, MACD is still looking ok for price to go higher. We have to see how this descending triangle resolves first.
Should we fall again the $0.35 level will give us a strong support.
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As long as we don't fall down from this triangle, I remain bullish on us breaking out sometimes next week.
The resistance at $0.42 is keeping us down for now and I don't exclude another re-test of the support level before we can sustain a higher price.
The 4h indicators remain somewhat bearish short term, but on larger timeframe like daily, MACD is still looking ok for price to go higher. We have to see how this descending triangle resolves first.
Should we fall again the $0.35 level will give us a strong support.
Like and follow if you liked this idea! Also join my crypto community to stay in touch!
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