Hi Traders,
The price of XRP managed to break the first line of the formation but failed to break the second with momentum with a continuation of a close above the previous higher high. More recently price has fallen and towards the confluence zone. on a micro scale if prices close below the two horizontal lines then we can expect prices to move towards the first zone where we will have to analyse price action to understand the direction it want to go from here. However if see a nice recovery from BTC before it comes down that low then we will also want to see a recovery with buy side volume coming into the market to give us more of indication of the break out from the the formation.
As always if you enjoy the content don't forget to click the like button and make a comment on your opinion.
Thanks
MS
⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️
The price of XRP managed to break the first line of the formation but failed to break the second with momentum with a continuation of a close above the previous higher high. More recently price has fallen and towards the confluence zone. on a micro scale if prices close below the two horizontal lines then we can expect prices to move towards the first zone where we will have to analyse price action to understand the direction it want to go from here. However if see a nice recovery from BTC before it comes down that low then we will also want to see a recovery with buy side volume coming into the market to give us more of indication of the break out from the the formation.
As always if you enjoy the content don't forget to click the like button and make a comment on your opinion.
Thanks
MS
⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️⬇️
