XRP appears to have formed a head and shoulder, with our current location on the upper right shoulder, potentially setting up for a dip down to the support line. Once it hits the support line, it should rebound up. If the neckline is broken, the pattern is broken.
This is what I'm seeing - as always do your own research, this is not investment advice.
Repeat the mantra of any trader...when in doubt, zoom out.
"Bullish flag formations are found in stocks with strong uptrends. They are called bull flags because the pattern resembles a flag on a pole. The pole is the result of a vertical rise in a stock and the flag results from a period of consolidation."
A clearly defined pennant has formed in $XRP - would look for a leg down to .74 - .75 range (buy zone) before bouncing up off of support and making a run to .86 - if this happens, pay close attention as this has been resistance for four candles yesterday. If a confirmed break-out materializes, look for the next fib up, which would be around .93
As always, this is...
We just tested resistance at near .212 mark, last time this happened, we dropped down to .19 in a relatively quick sell-off. If anything, be paying attention to the next few hours as those should tell if we'll more horizontal or downleg.