? XRP/USD Downtrend Carefully Builds Reversal Signs? ?
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Hi traders,
Ripples (XRP) remains in a downtrend but the price action is becoming more corrective and choppier, which could indicate a potential reversal in the near future.
XRP/USD
Daily
XRP/USD is approaching several key support zones again such as the -61.8% Fib target of the very first fall from the beginning of this year. It is also close to a supply and demand zone (brown lines) which could provide support as well and act as a potential reversal spot. A break above the resistance trend line (red) could indicate a new uptrend as well.
4 hour
XRP/USD was showing a falling wedge chart pattern last week but price action already broke above that pattern. The question is whether price will manage to build a bigger uptrend from here? The inverted head and shoulders pattern (green box) could be such a support zone but a the main breakout levels are the trend line (purple) and zone (brown lines).
Good trading,
Chris Svorcik
Elite CurrenSea
