XRP chart analysis
XRP USD analysis (Ripple) is carried out based on its 1 hour time frame. Price action forming an inverted head and shoulders between August 11, 2018 and August 16, 2018 confirmed when price closed above the neckline (~$0.30) of the pattern.
https://coinanalyst.investments/2018/08/26/xrp-usd-analysis-2/
Price action following movement out of the previous bullish pattern is contained inside of a descending triangle pattern which is ideally bearish. ~$0.34 is the point of invalidation (POI) of the chart pattern (descending triangle).
This could result in continuation of the current bullish price swing from ~$0.25, which is used as the head (H) of the inverted Head and shoulders (or head and shoulders bottom). On the other hand, price closing below ~$0.32 means that more selling should follow as the bearish implication of the descending triangle would have confirmed.
https://coinanalyst.investments/2018/08/26/xrp-usd-analysis-2/
Price action following movement out of the previous bullish pattern is contained inside of a descending triangle pattern which is ideally bearish. ~$0.34 is the point of invalidation (POI) of the chart pattern (descending triangle).
This could result in continuation of the current bullish price swing from ~$0.25, which is used as the head (H) of the inverted Head and shoulders (or head and shoulders bottom). On the other hand, price closing below ~$0.32 means that more selling should follow as the bearish implication of the descending triangle would have confirmed.
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.