Ripple (XRP) Price Today: A Rare Technical Pattern You Need to Be Aware of 1887

ripple arp price today

ripple xrp price

The weekly XRP/USD chart is what is giving us the most positive signals that we have reached bottoming action.

  • Bullish – The MACD is slowly curling up to the upside with what could be a potential bullish crossover.
  • Bullish – According to the “TD Sequential” indicator, we have completed an exhaustion cycle leading up to a possible reversal point. “TD Sequential” is an exhaustion cycle indicator that identifies trend reversals. It uses exhaustion points numbered “1-9” with “9” being the potential exhaustion point and reversal of a trend.
  • Bearish – The weekly RSI has reached considerate low levels of 42,5 which is almost as low as the bottom in 2017.
  • Potential Short-Term Bullish Target: $0.82

XRP/USD Daily Chart Overview

ripple xrp price
The next support level is located at $0.30

Neutral: If the “Three Black Crows” pattern proves itself to be true we would be looking at a correction back to $0.30, where the nearest support level is located. Although, the context is different this time as the pattern is occurring so late in a bear trend the “Three Black Crows” could prove itself to be a failed continuation pattern and end up being a bullish sign.

Trend reversal patterns that begin as continuation patterns are quite common. Like all trend reversal patterns, the probability of follow-through is only 40%.

ripple xrp
If the “Three Black Crows” pattern proves itself to be true we would be looking at a correction back to $0.30

Conclusion

Short term, the current support level needs to be monitored closely. A break above $0.52 could lead a quick rise to $0.82 while a break below $0.40 would put the target at $0.30. Place your stops accordingly.
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