Ripple Price Analysis: Is In The Wedge With A Confirmation Soon

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XRP USD Chart

XRPUSD is trading in its big falling wedge with a probable confirmation coming in sooner or later. The wedge will confirm with a break of the upper line to the upside. But till the confirmations come the downtrend is more likely and will continue till the important support has confirmed which can confirm the overall wedge formation.

XRPUSD Chart

XRP USD Chart
XRPUSD chart by TradingView

The falling volume is indicating a big move coming in when the time is appropriate. The volume will increase and confirm the trend when the confirmation comes to the upside.

The RSI is sending signs for a possible reversal which firstly will test the oversold condition and after that move to the upside and go to the overbought regions.

The MACD is sending a possible stabilization with intertwined lines which will support the trend further.

TREND: Downside

EXPECTATION: Reversal

TREND AFTER EXPECTATION: Upside

FORMATION: Possible falling wedge

PREV: 0.17493

OPEN: 0.17478

VOLUME: 4.378M

DAY’S RANGE: 0.17453 — 0.17899



Source: Ripple Price Analysis: Is In The Wedge With A Confirmation Soon

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