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Ripple Price Analysis: Is In The Wedge With A Confirmation Soon

Ripple Price Analysis: Is In The Wedge With A Confirmation Soon

Ripple Price Analysis: Is In The Wedge With A Confirmation Soon

XRPUSD is trading in its big falling wedge with a probable confirmation coming in sooner or later. The wedge will confirm with a break of the upper line to the upside. But till the confirmations come the downtrend is more likely and will continue till the important support has confirmed which can confirm the overall wedge formation.

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XRPUSD Chart

XRP USD Chart
XRPUSD chart by TradingView

The falling volume is indicating a big move coming in when the time is appropriate. The volume will increase and confirm the trend when the confirmation comes to the upside.

The RSI is sending signs for a possible reversal which firstly will test the oversold condition and after that move to the upside and go to the overbought regions.

The MACD is sending a possible stabilization with intertwined lines which will support the trend further.

TREND: Downside

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EXPECTATION: Reversal

TREND AFTER EXPECTATION: Upside

FORMATION: Possible falling wedge

PREV: 0.17493

OPEN: 0.17478

VOLUME: 4.378M

DAY’S RANGE: 0.17453 — 0.17899

Ripple Price Analysis: Is In The Wedge With A Confirmation Soon
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Ripple Price Analysis: Is In The Wedge With A Confirmation Soon
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XRPUSD is trading in its big falling wedge with a probable confirmation coming in sooner or later. The wedge will confirm with a break of the upper line to the upside. But till the confirmations come the downtrend is more likely and will continue till the important support has confirmed which can confirm the overall wedge formation.
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Worldmarkets

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Author: Vince Prince

Ripple Price Analysis: Is In The Wedge With A Confirmation Soon

Vince is an experienced trader, investor and financial analyst within the markets in which he concentrates on the cryptocurrencies and decent opportunities within them to trade in a professional oriented manner. You can follow him at trading view market insight at: https://www.tradingview.com/u/VincePrince/
Or you can join his telegram channel: https://t.me/vinceprince_channel

Published at Sat, 04 Jul 2020 06:05:41 +0000

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