Unlike other cryptocurrencies like ethereum or bitcoin we can see now really really different signs at the moment in ripples price-action. Unlike to other cryptocurrencies, ripple didn't make a higher high which exceeded the previous high made, currently, it is still trading under this high which first of all is a sign that ripple is more then the other leading cryptocurrencies. Firstly ripple has to come above the strong which you see in my chart marked with the blue box, this level still serves as the major and cant be ignored in the structure, as you can see it bounced several times to the downside from that level, this mechanism can happen again.
On the other side, we have some worthwhile signs currently happening on the indicational side where I detected a forming in the past price-action together with the movement. There we could see a bear-fakeout which happened before we had this strong-up-move to the high at 0.34681. The providing first the faster moving line crossing the slower moving line down and then rapidly to the upside providing a fake-out which served as an exact indicator for the trend-change to the upside. Exactly that same is happening now which can be the next confirmation of the signaling a continuation to the upside.
Now puzzling all these signs together we can expect ripple to decide the next days where it is going with the overall trend and if it is confirming greatly to the upside or falling back again to the downside. When ripple manages with the current possibility given to confirm to the upside it needs to trade with a close above the blue you can see in my chart also it needs some good and a clear break when this scenario should happen, if it happens I see a high probability for a continuation to the Fibonacci-resistance at 0.23041 you can see marked in my chart with the grey line. Otherwise, when ripple does not serve to come above the resistance we can contemplate ripple to visit the underlying you see in the chart marked with the green box. When this happens we need to look forward if ripple confirms this range of stable support or show more decline to the downside.
The current situation is a situation in which ripple has to decide where it is going and therefore we have to wait and then spot the reversal or continuation by when it is happening and take the needed action to trade the opportunity resulting from the confirmed scenario therefore trade ripple in the right direction. We currently cant say that this or that scenario will happen for sure and that ripple will hit the moon soon or fall to nearly-zero, that is mere speculation we see at mass today and has nothing to do with elevated market-decision-making. The only thing a wise and motivated trader should do is to keep patients in the market and keep the logical approach to trade the movements with the highest possibility for a profit. Sometimes it is waiting time and now we need ripple to show us the right price-action which will be confirmed as mentioned.
Thanks for watching the analysis, feel free to support my friends, have a good rest of the weekend.
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Information provided is only educational and should not be used to take action in the markets.