XRP Ripple, making an H&S to form a big inverse H&S

XRP made a big strong rally to the high of a big resistance. Because of this conviction there is a reasonable chance to form a big inverse H&S. But we would need to see a good solid correction/consolidation from the current levels. On the right we can see a channel, if that breaks we can assume the green support will get tested again. If that happens there is a chance for a small H&S. Even if that one reaches the target, it would still fit the picture of that big inverse H&S. But the right shoulder has to be smaller in size and time than the left shoulder.


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Previous analysis:

Comment:

We broke the channel and made a decent drop. At the moment we are seeing a good bounce, sign of life. We could make a V shape here, but not likely. I would rather see the lower low version, to really test support another time.

Comment:

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