- We can see what seems to be a inverted Head & Shoulders pattern. Price has broke above the neckline (blue line) and now is retesting it as a support, what should happens next to confirm, is a strong movement to the $1.5 area to confirm the pattern and the trend reversal to start Wave 3, in other way, if XRP close below the neckline and returns to the downtrend channel, it would be a false break, and we may see XRP retest the $1.0 area.
- See how volume momentum shows bears are losing strength in the 1hr time frame (white circles) and buying volume is starting to increase.
Next hours will define if we start the uptrend or the bloodbath is still in game.