Ripple's (XRP) falling wedge chart pattern
Previous post explored the different 1 hour timeframe chart patterns in Ripple (XRP) and what their possible implications. The current post does the same except that a 4 hour timeframe is presented.
The meandering price action in Ripple (XRP) is captured from January 28, 2018 to present date with a falling wedge (diagonal), which is ideally bullish. Price level marked on the chart (~$0.47) is considered a conservative entry point into a long (buy) position as this would see the price of Ripple break out of the falling wedge, but also close above the previous consolidation between ~$0.42 and $0.47.
An earlier (less conservative) approach to going long (buy) would seek price entry prior to breakout above the current wedge.
The meandering price action in Ripple (XRP) is captured from January 28, 2018 to present date with a falling wedge (diagonal), which is ideally bullish. Price level marked on the chart (~$0.47) is considered a conservative entry point into a long (buy) position as this would see the price of Ripple break out of the falling wedge, but also close above the previous consolidation between ~$0.42 and $0.47.
An earlier (less conservative) approach to going long (buy) would seek price entry prior to breakout above the current wedge.
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