XRP/BTC 1W Jul. 25

Suggested Entry: 2160
Target 1: 1915
Target 2: 1750
Target 3: 1560
Stop Loss: 2330

In a glance, the long term setup for XRP looks promising; it is trading within a descending wedge during a downtrend, which is a textbook pattern of reversal. However, it's important to take into consideration the fact that we have a 30% upside from a short position we could take. Candle patterns are showing a lack of bullish momentum, forming sequential doji patterns. Significant resistance levels are marked in red, support marked in blue. As the setup is inherently bullish , risk management is especially important for this particular position.