I posted last week i was looking for XRP to mimic BTCs breakout of the descending channel. Although it did break out it was not a good match.
The 2 are still doing the same thing(BTCs volatility) made its hump much larger.
I do not believe XRP drops back into this channel(if it does it will not be by much).
XRP is oversold as of right now, good opportunity to go...
XRP on the Daily Chart shows a descending pattern eerily similar to BTC on the daily chart. BTC has recently broken out of its pattern. Looking for XRP to temporarily do the same up to .345-.35 before dropping back down back into the channel.
If it continues to follow the BTC trend. May have the opportunity to get heads up on what XRP will do a few hours ahead of time.
Breakout of a current descending triangle will not last. Look to short & buy back in as we re-enter the lower portion of the channel. Stop losses at 11k. Buy position anywhere in lower portion of the channel.
