$XRP, Almost There…
Weekly
Looking at our trend timeframe we see price respecting it’s descending wedge pattern, stochastic rsi showing momentum remains in favor of bears. A weekly close above our trendline and expect XRP to rocket to 8000, however if reject at the 5000 level expect a sell off towards 4000.
Daily
Shifting over to our pattern timeframe we get a better look at our descending wedge pattern, stochastic rsi showing momentum in favor of bulls however at a temporary pause. A daily close above 5400 indicates a higher high is on the way, however if rejected at this level expect XRP to fall towards 4000 and leaving us with a double bottom.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.