My 3rd chart here so lets see how i do lol. First off we had a nice bounce at .55 on feb 6 and hit 1.20 as our high as unlike some of the other coins that were able to complete the head and shoulders we were unable and never broke out. Since nothing has really changed in the xrp world besides announcements that companies are "testing" or otherwise have just "Signed up" with Ripple net I think the value of xrp is still above what it should be. Looking at our top trendline that acted as initial support then turned resistance as we bounced off of it feb 9 and havent been able to break it. We are also below the 50 ema and currently on the 20 day vwap we are below which is a bearish signal. Volume for Xrp hasnt been quite there and thats why the bulls have been struggling to take ahold. Xrp has been trading independent of btc but it seems when btc goes, they all go Down and not necessarily up. The only h&s pattern we were able to complete was bearish which we have hit the h&s target of .92... Our Macd is bearish, Rsi not strong at all. I still believe the bears will drag this down to our bottom trendline as volume/investing overall has increased so i dont see this going below our bottom trendline but i do believe we will touch it. We will see. My entry point will be around the .75 mark on down to my target of around .70 where we will find support at our lower trendline. Good luck to all, Long term great asset and this is obviously for my trading only.
Comment:
Looks like we have formed an inverted cup and handle and if it holds true we could be seeing this dip down to .60. Volume has decreased dramatically which is a sign of this to be true. Good luck to all and this is for my trading only