Ripple can continue to fall and break support line of triangle
Hello traders, I want share with you my opinion about Ripple. Looking at the chart, we can see how the price made a big fake breakout of the resistance area, bounced back and started falling. After breaking through the support level 0.5275, Ripple made a deep correction, tested the current resistance level and continued to move down. Reached the level 0.4810, the price changed direction, began to rise and re-tested the resistance level 0.5275. Over time, Ripple created a symmetrical triangle and trades inside. We see how the price has re-tested the resistance line of the triangle and decreased. Ripple is currently trading below the resistance line, but could rally and retest it. I think that after a possible retest, the price can continue to fall and break through the support line of the triangle. After a possible breakthrough, Ripple can continue to decline, so I set the targets at levels 0.4980 and 0.4900. Please share this idea with your friends and click Boost 🚀
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.