Probably a bullish falling wedge pattern (reversal) forming. RSI also shows bullish divergence.
But DMI shows a bearish trend, so I do not recommend buying now. However, sellers are weakening.
Pending buy orders may be placed above the local swing high at .205 – .208
Good luck!
Comment
⋅
The market broke the resistance, I think this is a good signal to buy.
Comment
⋅
XRP excellently broke through the resistance and reached almost 20% growth. At the moment it seems very likely that a bull pennant is being formed. But you need to be careful, this pattern sometimes does not work.
It looks to have lost it's energy . Think it can still get higher ?
sasha_morozov
⋅
@MarRob, I'm not sure what will happen next. Now there is no trend. Formed a symmetrical triangle and a breakdown of one of its sides with sufficient volume will be confirmation of any trend.
@MarRob, Ripple broke through the local downtrend line, yes, but the volume is not very large. At the moment the market rebounded from the next downtrend line.
But DMI allows to open long trades. I would place a order to buy at the level of .24 if it breaks through downtrend and resistance with sufficient volume.
uknowsam
⋅
Ripplecould work with a chinese bank see twitter
Wheelman-
⋅
What's your target on this analysis?
sasha_morozov
⋅
@WheelmanM80, I hodl to a minimum .3.
The first resistance line at .22, the second at .26