XRP ANALYSIS: SHORT THE RESISTANCE
XRP ANALYSIS:
XRP looks to be forming a rising wedge as it also coming to the hourly resistance block near .16 up to .1650. I am expecting a break down inside the hourly resistance. There may be a short lived pump out of the wedge into the resistance block, followed by a wick back down. Any stop loss should be above previous wick of .1650. Otherwise, look for short opportunities here down to bottom of wedge T1 at .1520. If the wedge does break down, look for T2 at .14687 which lines up properly with 50/100MA cross. RSI has tapped out on the hourly and a downward move looks promising. Last T3 at .1410. Take profit, look for a flip to long inside triple bottom support!
XRP looks to be forming a rising wedge as it also coming to the hourly resistance block near .16 up to .1650. I am expecting a break down inside the hourly resistance. There may be a short lived pump out of the wedge into the resistance block, followed by a wick back down. Any stop loss should be above previous wick of .1650. Otherwise, look for short opportunities here down to bottom of wedge T1 at .1520. If the wedge does break down, look for T2 at .14687 which lines up properly with 50/100MA cross. RSI has tapped out on the hourly and a downward move looks promising. Last T3 at .1410. Take profit, look for a flip to long inside triple bottom support!
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