Ripple XRP Triangle Breakout and Bullish Wedge now?
My last few XRP' analysis i showed a possible fractal, but in my last one i chose to ignore it because the market was turning slightly bullish again and XRP' had a valid channel it was moving inside of so i chose to use that one to see what the next step would be. Since it was already against it's resistance and looked like it would break up, which it did. So after quite some time XRP' also made a big rally, but compared to many other alts, it has dropped a lot again since the high. We can see a good volume increase on the low time frame, but when zooming out to the daily, we can see the volume is still low. So either this rally is fake, or the bulls still have something in store for us.
I say this, because the rally was big, despite of the low volume and from the looks of it, we seem to be moving in a bullish wedge during this drop. So these suggest the bulls might still show up. As long as that green support on the right holds, the bulls have the upper hand here. Below that zone the bears will probably take over again.
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Previous analysis:
I say this, because the rally was big, despite of the low volume and from the looks of it, we seem to be moving in a bullish wedge during this drop. So these suggest the bulls might still show up. As long as that green support on the right holds, the bulls have the upper hand here. Below that zone the bears will probably take over again.
Please don't forget to like if you appreciate this
Previous analysis:
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