XRP’s market is strong and price as well. recently it broke the couple months resistance. Which means it will correct and then start a new bullish trend.
Market is weak and the price is strong, mean hard reversal. Clearly, H&S 99% is formed.
The price chart looks like an inverted head & shoulders is forming, the the right shoulder is still forming until it touches the Resistance 1. The other case, the price will reverse to support 1. Possibilities of the both cases are right. However the RSI is indicating as bearish signal. Therefore, the inverted Head & Shoulders will be occurred.!
MACD, RSI AND the price action are bullish. The bulls are bushing the price to up. also, it might be a little challenge to the bulls at point the Resistance of 0.618 of fib retracement to reverse to point 0.382. however, the bulls will be aright tho.
ELLIOT WAVES AND FIB RETRACEMENT, WITH RSI MACD AND PRICE ACTION INCLUDED. P.S. IT MIGHT HIT WAVE A AS WELL
BY USING ELLIOT WAVES AND MEASURED THE WAVE C BY FIB RETRACEMENT. ALSO, MACD, RSI AND THE CHART PRICE ARE INDICATING THAT THE BULLS ARE WEAKING IN THAT BIG WALL. THERFORE, BESED ON THE TECHNICAL ANALYSIS, THE PRICE WILL SOON REACH TO THE TREGET.
First of all, MACD, RSI & THE PRICE ARE VERY BEARISH , IT MIGHT HIT THE TARGET.