Hi, XRP has been in a downtrend for some time now, but also in some kind of descending wedge. I had originally designated the red outline/green box as a possible reversal zone. It has once again bounced from the 0.786 Fib Retracement level and it got close to an old trend support line (pointed green line), and now it's headed towards the downtrend resistance line. This could be the breakout in the making.
The other possibility is that it's making another descending triangle, bringing another breakdown to the next support level (green box):
Meanwhile, it has been scalper's paradise. I missed the entry at support, so now I'll wait for it's reaction at the trend resistance line. If I have the time, I will publish another chart for scalping once it approaches or something happens at that resistance line. Can't short XRP in Kraken, so I will only publish "Long" trades.
The other possibility is that it's making another descending triangle, bringing another breakdown to the next support level (green box):
Meanwhile, it has been scalper's paradise. I missed the entry at support, so now I'll wait for it's reaction at the trend resistance line. If I have the time, I will publish another chart for scalping once it approaches or something happens at that resistance line. Can't short XRP in Kraken, so I will only publish "Long" trades.
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