XRP Descending Channel TargetDo you remember this chart?
We have a descending channel and we continue to experience lower highs... This lower highs eventually lead to a lower low and this is happening now.
The last three days closed bearish/red.
Yesterday, the day started green but ended red after two days red. This is normaly a major bearish signal. Because it confirms the continuation of the bearish action.
If two days close red and the third green, the bearish bias weakens. But two days closed red, the third starts green and moves higher but later before the session closes, it reverses and closes full red. It means the bears won and now lower prices are basically confirmed.
Since we are using a channel, expect the lower trendline to be challenged, but it can go lower depending on how the rest of the market behaves. If the crash is really strong, it can go much lower. But, as usual, after the bearish wave is over we will definitely see growth.
Namaste.
