Ripple Still In Downtrend (unfortunately)
Updated
Despite the great news of partnership announcements with Moneygram and others, Ripple is just coming out of a Head and Shoulders trend. I expect the trend to continue downward for another few days.
Notice, if you were to take the large green candle breakout off the chart the trend is downward continuous. I believe that the spike was just due to the GREAT partnership announcements, not a change in trend. Once it continued past the neckline the trend did not change. It could, however, use the neckline to bounce up.
I am an avid Ripple supporter, but I just don't think we're out of the woods yet.
Thoughts? Let me know!
P.S. Ripple, and crypto as a whole, surprises us all so it could do anything
Notice, if you were to take the large green candle breakout off the chart the trend is downward continuous. I believe that the spike was just due to the GREAT partnership announcements, not a change in trend. Once it continued past the neckline the trend did not change. It could, however, use the neckline to bounce up.
I am an avid Ripple supporter, but I just don't think we're out of the woods yet.
Thoughts? Let me know!
P.S. Ripple, and crypto as a whole, surprises us all so it could do anything
Note
61 FIB line support broken, will continue down. I will make an estimate on where I think Ripple's "bottom" will be for this correction.Remember, this is a correction! All markets have to correct eventually. Ripples rapid growth comes with a rapid correction too.
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