Today's sell-off has changed the symmetrical triangle to a descending triangle.
If the price action will hold the support above daily 21 EMA and the support of the triangle will be also retained, then a move upto $0.80 is will be confirmed.
Ripple "XRPUSD" has gained almost 49% gain from its December 2019 low. However, the structure of the advance is more corrective than impulsive.
The current pattern on the chart is called a double zigzag according to the Elliot Wave principle. Wave (y) of the zigzag also equals 1.236 of wave (a) at a critical weekly resistance level that lined up with 200 Daily...
Disclosure: this is a repost of my Feb 10 Tradingview idea. It received over 2500 views but was taken down by admin because it contained some external links. Until today, I always included links to i) my website, ii) interesting other sources. Unfortunately, my ideas that contained links have now been hidden (it's against policy). Given that I found the post a...
