XRP is within a descending channel and is respecting both the support and resistance. Recently we saw a double bottom chart pattern indicating that price may move up. We are now moving towards channel resistance and structure where we can look for medium to long term trading opportunities.
Its worth bearing in mind that if we break the ascending trendline, we could see XRP fall back down to the double bottom region.
Right now we can monitor the lower timeframe chart for bull flags to take this higher. We have clear invalidation level which will negate our bullish outlook - break fo the ascending trendline.
Its worth bearing in mind that if we break the ascending trendline, we could see XRP fall back down to the double bottom region.
Right now we can monitor the lower timeframe chart for bull flags to take this higher. We have clear invalidation level which will negate our bullish outlook - break fo the ascending trendline.