XRP/BTC: Pure Distribution

It can be seen that ripple has had a double top, which is noted in the chart in light blue. This form of double top is known as an Adam and Eve double top with a V top for the first one and a massive rounded top for the second one. The rounded tops or bottoms are some of the strongest most reliable patterns because they indicate a long duration of either distribution or accumulatio (with this case being distribution). The price objective which can be seen as the light blue arrow is a conservative one with a minimum price objective of around 2000 satoshis, (it can be noted that I did not accurately measure this to create an even more conservative price objective).

In addition, I indicated the current support and resistance as the green and red box, respectively, it is important to note how weak ripple is right now because it was unable to reach the breakout price of the double top which was about 6100 satoshis.