XRPUSD - head and shoulders (75 % downside potential)

XRPUSD similary to other altcoins has been in a brutal downtrend and it keeps looking bearish.

What we can see on the chart is a potential head and shoulders formation on the weekly timeframe.
MACD looks bearish as well. Decreasing bars of positive momentum and potential bearish cross may help bears to drag the price down

We believe that if we get some catalyst (for example: Ripple loses vs SEC) it would be a trigger for the price and we may see a huge dump.

Keep in mind that it's a weekly time frame therefore reaching the target from the head and shoulders pattern may take many months.

Good luck

تعليق:

Expecting XRP to push towards 0,42 $ before dropping. From there bearsh should take over (right shoulder will be still valid)