XRP Possibly Reversing Trend
XRP is steadily rising within the upward channel constricting the price. The price will likely fall from ~.225USD to ~.215USD before continuing on this upwards trend. That is only possible if the most recent green fractal is not followed by two consecutive, lower green fractals. In order to remain bullish one of the next two fractals needs to form at or above the last one, marked with a red ellipse.
The price action over the next 5-8 days will show where the price is heading and it would be smart to hedge your positions. I would suggest stop losses, and buy orders, to be placed in the red in case the price breaks the lower bound of the channel and a bearish fractal pattern forms.
The Awesome Oscillator, AO, seems to be forming along with the bullish trend pattern so likely one of the next two fractals will cancel out the possibility of a bearish trend reversal.
The price action over the next 5-8 days will show where the price is heading and it would be smart to hedge your positions. I would suggest stop losses, and buy orders, to be placed in the red in case the price breaks the lower bound of the channel and a bearish fractal pattern forms.
The Awesome Oscillator, AO, seems to be forming along with the bullish trend pattern so likely one of the next two fractals will cancel out the possibility of a bearish trend reversal.
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