XRP has several interesting formations that are worth discussing.
Triangle / double bottom - bullish
-XRP is trading in the triangle apex with growing buying volume.
-One of my favorite patterns is a double bottom with in a larger double bottom with confirmation from Stochastic and Oscillator divergence.
-There is obvious resistance at .38, .46 and .50 with support at .28.
Triangle / head-and-shoulders - bearish
-Since XRP is trading only at .33 these patterns risk reward are not favorable to trade, since the price targets would less than 0.
Triangle / double bottom - bullish
-XRP is trading in the triangle apex with growing buying volume.
-One of my favorite patterns is a double bottom with in a larger double bottom with confirmation from Stochastic and Oscillator divergence.
-There is obvious resistance at .38, .46 and .50 with support at .28.
Triangle / head-and-shoulders - bearish
-Since XRP is trading only at .33 these patterns risk reward are not favorable to trade, since the price targets would less than 0.