Good morning all. XRP is up nearly another 12% after the re-entry opportunity given at the base of the bull flag after yesterday's vigorous move to the upside. Price traded sideways along the 1.272 Fib extension before taking out the previous high and is now attempting what possibly could be its last rise in this movie. The 1H chart showed us less positive momentum on the last rise and is now showing us a higher high with no positive momentum at all. Volume is consistently diverging bearishly and the 2.618 level coincides with the rising channel upper line. Will we see price break above this channel or will the bearish divergence be enough to kick start a pullback? Downside target would be $0.28 with the upper area of interest being over $0.34.
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XRP Attempting to break to the rising channel
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Was that it?
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Potentially a bounce up from here? Look for a break out of this descending channel.
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opened on the break with a trailing stop loss on the Fib extensions.