XRP head-and-shoulders pattern

2018년 1월 15일

XRP has been bearish overall since its ATH 10 days ago. It hasn't managed a strong breakout from the trend (orange line), and volume has been very low. RSI showed bearish divergence at the peak.

Furthermore, XRP has also formed a head-and-shoulders pattern, meaning that it could see prices drop even further.

Currently hovering around $1.84, the direction that the price goes next will be very telling:

• If the price continues downwards, and breaks $1.50 (previous low), then we will see the completion of the head and shoulders pattern, and a strong bearish signal.
  
• If it bounces off $1.50, forming a double-bottom pattern, giving a bullish signal.
  
• Lastly, it may break the current bearish trend altogether - but for this to happen, volume needs to pick up drastically. Watch for RSI to also break the bearish divergence trend line.
  

2018년 1월 16일

노트

So for now, the trend continues. $1.50 was hit but not broken through convincingly.

2018년 1월 16일

노트

In the previous update I used XRPUSDT on Bittrex instead of XRPUSD on Bitfinex. Oops. The prices are very similar, though, and I'll update again with XRPUSD soon.



A look at XRPBTC. A similar H&S pattern. The previous "shoulder" was hit.

2018년 1월 16일

노트

XRPUSD on Bitfinex again. $1.10 soon?

2018년 1월 17일

노트

XRPBTC: the old support becomes the new resistance? Without a convincing breakout here, XRPBTC could be headed down even further

2018년 1월 17일

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XRPUSD: still following the orange line

2018년 1월 18일

노트

XRP looking much better today with a convincing trend break while BTC recovers as well. However, if BTC crashes further, XRP will follow suit, or at best, go sideways.

2018년 1월 22일

노트

XRPBTC is inching closer to EMA50 and EMA200 death cross and as BTCUSD drops, XRPBTC is dropping along with it. Do not take a long position if you believe BTCUSD will drop even further.

2018년 1월 24일

노트

XRPBTC is dancing around 12k, which was a previous support. Some more news of partnerships can potentially give it a much needed boost.

2018년 2월 1일

노트

down we go again