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BCryptological
Aug 7, 2018 12:30 PM

Rising Wedge formed on XRP, downtrend incoming Short

XRP / DollarBitfinex

Description

A very clear rising wedge is in play for XRP, combined with a primed Stochastic RSI, meaning a break through the bottom of the trend line down to $0.4 is highly likely in the next few hours (and bucking the trend, since most top coins are green to a few percent up at the moment - Ripple XRP may just be late to the party, with a nice move back up to follow).

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Comment

Right on schedule, we've broken down - just hit the play button on my prediction above to see it play out. Expect initially to drop to the previous low when the rising wedge began, so between 0.40261 and 0.40470.
Comments
Polyphemus
Very good call. Thanks a lot. I'm going to follow you.
BCryptological
@Polyphemus, Glad I could be of assistance! Best of luck in your trading.
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