XRP continuing to respect descending channel, stochastic rsi showing momentum to the downside is slowing down. Price is currently testing our uptrend line for confirmation, a closer look will give us a better idea. Every time XRP breaks out of a descending pattern we see a short climb towards the upside.
Zooming in on our weekly we see this week we see price tested our dynamic resistance of the descending channel. Expecting a follow up with the upcoming week, this is an ideal zone for a double bottom. A push towards the upside from here could lead us to 0.00004000 satoshis. Rejection from this dynamic resistance could send XRP to the 0.00002000 zones.
Shifting to our pattern timeframe we see our daily candles showing support at 0.00002500, stochastic rsi showing momentum looking to shift towards the upside. The price showing bullish divergence, strong resistance at 0.00002900. Last time XRP was at this price we saw a jump from 0.00002400 all the way up to 0.00003700 giving us a 50% gain. Price action history shows us price tends to have the same behavior when major support/resistance is confirmed.
Finally looking at the trigger timeframe we see the price now looking to head towards our dynamic resistance. Stochastic RSI showing momentum in favor of bulls. Firs tp looking like an 18% gain, a 4hour close above 0.00002600 activates trade. Rejection from this level and it could get ugly for XRP Fan Boys & Girls...
