This is a possible scenario if the price stays within the ascending wedge. We need a good green candle next week!
A bounce at this stage would be short term bullish but the chance of a bigger correction are still high. With this scenario you could still cash out at ATH and buy back in much lower.
Lets see what happens in the next few days.
XRP has dropped out of a strong wedge, now resting at the cloud support.
Option 1: this is a fake out and we will quickly move out of the top of the wedge.
Option 2: we break below the cloud and a much bigger drop occurs.
Which way do you think it will go, or do you have a different idea?
Last time XRP broke above a long term resistance line ($0.63) the move was roughly 238%, there were three resting periods on the way up (dotted line wedges) and it ran out of steam on the third. A similar move here would bring XRP back to all time high. I have added a wedge to show the area which could prove to be the end of the run, in the short-term at...