Ripple XRP Bullish wedge
Seems XRP/BTC is setting up for a move upwards. Past week the big support broke around 3050, but instead of a big drop a bullish wedge has been formed. This is usually a sign that a bear trap is being set. Since the first push up has partially failed already, there is some danger, but there is still a second chance. Ideally we see one more small drop in to that green zone, finding some support and slowly seeing it turn up again. If this happens, it could be the start of a second attempt up. If this plays out, the red zone will be the key level to break. If this happens, it could potentially be a mid/long term low that has been set.
Previous analysis:
Previous analysis:
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.