Watch breakout of pattern for short term direction.Watch closely for confirmed breakout of pattern to find which direction it will go in the short term.
Xrpusdtrading
XRPUSDT - medium-term expectations!Good afternoon! In the medium term, XRPUUSDT is waiting for a trend resistance 0.255-0.265 - the completion of the five wave. If it breaks through, growth to 0.28 is possible. Perhaps 0.28 is the strongest level, with the passage of which it will be possible to grow to the sales zone 0.35-0.43. I do not see above growth yet. I will write a change!
All success and profit!
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RIPPLE MACD turned bearish. Weekly overview.XRPUSD is consolidating after the Jan 18 high and broke this month's channel up sideways.
Levels to watch:
- January's uptrend stopped exactly on the lower high trend line of the medium term channel down that started in August.
- That lower high was right below the MA200 on the 1D chart. The MA200 has sold the price and acted as a resistance on several occasions since July.
- So far the price has found support on the MA50 1D.
- The Support is set at 0.1700 and the Resistance at 0.33000.
- The MACD turned bearish.
Projection:
- Since the uptrend stopped on the lower high of the August channel down (which is the dominant trend) and the 1D MA200 held, there is no reason at the moment to believe that the same pattern will not be repeated and go for a new lower low, especially with the MACD turning bearish. Technically if the MA50 breaks we should expect a run towards the 0.1700 Support. If however we have a 1D candle close above the MA200 (hasn't happened since early July, we only had wicks), then buyers may push is as high as the 0.3300 Resistance.
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