Possible inverse Head&Shoulders forming (Ripple)
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Based on the daily timeframe, you can see that the Stochastic RSI is in a downward movement. Also MACD histogram confirms downtrend.
Nota
Based on a 4-hour Poloniex chart (Kraken was added not so long ago and not seen the whole situation) the price almost touched 0.382 fib and, apparently, rebounded. This is also confirmed by the upward movement of Stochastic RSI. But the figure is not finished and the market is very unstable. Be careful.
Nota
The market could not break the uptrend line and probably we'll see an upward movement. This is also confirmed by the MACD histogram.
Nota
Ripple broke the uptrend line and 0.382 fib. Probably drop to 0.236 fib and rebound upward. If the market breaks down and this level of support, then the drop will be to 0.14 - 0.12 minimum.
The drop is confirmed by Stochastic RSI and MACD.
Nota
Apparently, the market rebounded from 0.236 fib and broke through the local downtrend line. Probably we'll see an upward movement, which is confirmed by RSI and MACD. The price should break through 0.20 to make the figure complete.
Penafian
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