Inverted Arc pattern - XRP 15 minute chart
Over a period of roughly 30 hours, XRP shot up from US $0.95 to $1.45. It has since bumped up again that resistance several times and appears to have begun to roll over. This action has resulted in the appearance of an inverted arc, with 3 touches on the arc so far.
If this were to play out, the target on the downside would be just below $1.00. However, given that XRP recently tested the support zone just below $1 twice, this could be part of a larger back-test of the 2017 resistance zone of roughly $0.73-0.75, which has yet to be tested. This would also allow for a back-test of the 20EMA , which would be a healthy move to get the next phase of the bull-run under way. NFA
If this were to play out, the target on the downside would be just below $1.00. However, given that XRP recently tested the support zone just below $1 twice, this could be part of a larger back-test of the 2017 resistance zone of roughly $0.73-0.75, which has yet to be tested. This would also allow for a back-test of the 20EMA , which would be a healthy move to get the next phase of the bull-run under way. NFA
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