Long

XRP Wedge

Updated

With the crypto world taking the huge correction earlier this January XRP took a hit just as hard. Assuming this is a corrective period we must be hoping for the next bull run. As shown, XRP has a clear wedge and it just comes down to where the break out is going to be, up or down? As stated earlier with the correction already taking place prior I'll bet on the breakout happening in the positive direction with upward pressure.

Note

The wedge was very clear to anyone looking but sadly, the breakout was in the negative direction. The good news is that it bottomed out at the support line and quickly ran up. If it continues to move sideway it might reinstate the downward channel that I had up previously. Lets hope it can move higher than the wedge apex, then we can expect more upward pressure..

jccarson

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