Possible breakout to $0.90??
The past couple of days has seen Xrp fall. What seemed to look like a H&S pattern, it didn't follow through so the price has slowly drifted down, forming what appears to be a descending wedge. There has been a recent breakout that could be the end of the descending wedge. If confirmed, Xrp could rise to $0.90 to the next resistance line. However, if it fails to carry momentum, it could retrace back to the bottom trend line, continuing the downward trend. The blue dotted could be the predicted trend line if breakout fails.
However, the 1H chart shows down momentum is weakening as there are higher lows on the CCI. The MACD on the 1H chart has also turned Bullish. The stochastic is high which could mean there could be a short-lived swing low before a rise in price. The stochastic could also hover above the 75/80 mark for an extended amount of time when it rises, but that is just prediction based on the past such as the 4th and 5th of March.
Personally, I'm Bullish Xrp will reach $0.90 and continue momentum upward with a few retracements mixed in, based on my analysis.
This is my opinion. I am not a financial adviser. This is information for analysis and educational purposes only.
However, the 1H chart shows down momentum is weakening as there are higher lows on the CCI. The MACD on the 1H chart has also turned Bullish. The stochastic is high which could mean there could be a short-lived swing low before a rise in price. The stochastic could also hover above the 75/80 mark for an extended amount of time when it rises, but that is just prediction based on the past such as the 4th and 5th of March.
Personally, I'm Bullish Xrp will reach $0.90 and continue momentum upward with a few retracements mixed in, based on my analysis.
This is my opinion. I am not a financial adviser. This is information for analysis and educational purposes only.
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