I'd like to draw your attention to the . You can see that we had a big , where the chart was making lower lows, while making higher lows on the (green .) This is an indication of a decline in underlying sell-side momentum. divergences can occasionally be a precursor to an impending rally. Speaking of the green , you can see that each time it was reached (airplane) a nice rally ensued. We are just about to touch it for the third time. After finding continuous support on the 50 , and grinding higher while holding the blue , it's possible that XRP may see some sudden upside. If we get a surge in momentum, producing a third bounce off of the rising green , that would confirm the newly found support on the 50 , and we could see a more substantial rally in XRP. If a rally does ensue, the 61.8% retrace would act as initial resistance. That level is at about $1.40. If the 50 is lost, and confirmed as resistance, that would be a warning signal of more downside. For now, let's sit back, and see if the produces a momentum bounce off of the rising green . Such a move, would correspond with a breakout above the 200 . I'm the master of the charts, the professor, the legend, the king, and I go by the name of Magic. revoir.
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***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
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This eventual H&S is visible since a few days, but the right shoulder is still not made. But it's indeed a possibility.