A bit messy, but went from top-down. After a quick top-down look at XRP, it has broken out of one downtrend this week on the daily timeframe... I have noticed a bearish volume divergence as it's tried to test the resistance areas above and it's created a rising wedge. It's held the support range from low .22-.23 and began consolidating after the large downtrend from the H&S break. High areas of .247 are the start of some decent resistance. We can see all that way up towards .26 will pose a challenge As You have the convergence of your 50-day SMA/ema and 200-day SMA/ema and some overlapping Fibonacci retracements in that range. If able to hold support, bulls have to break these areas or resistance and then ride up towards to 50-day averages on the weekly(which were the last decent highs). The volume needs to increase. Right now, the lack of volume and rising wedge are showing the bears have a little more control in the short term.
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.