XRP / TetherUSShort
XRP Analysis==>>Correction Signs!!!
Updated
XRP(XRPUSDT) is moving in the Resistance zone($2.63-$2.50).
In this post, I want to show you some signs that XRP may still need to be corrected in a one-hour time frame:
1-Regarding Classical Technical Analysis, XRP seems to have succeeded in forming the Rising Wedge Pattern.
2-The formation of the Evening Star Candlestick Pattern in the Resistance zone can signify the reverse of XRP.
3-The formation of the Bearish Gartley Harmonic Pattern can also be another sign of the decline of XRP.
4-According to Elliott wave theory, XRP seems to be completing the main wave 4.
I expect XRP to break the lower line of the Rising Wedge Pattern, which should drop to at least $2.38. If the Support line is broken, the next target will be the Support zone($2.25-$2.17).
⚠️Note: If XRP manages to break the Resistance zone($2.63-$2.50), we can expect an XRP pump.⚠️
XRP Analyze (XRPUSDT), 1-hour time frame⏰.
🔔Be sure to follow the updated ideas.🔔
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
XRPUSDT) is moving in the Resistance zone($2.63-$2.50).In this post, I want to show you some signs that XRP may still need to be corrected in a one-hour time frame:
1-Regarding Classical Technical Analysis, XRP seems to have succeeded in forming the Rising Wedge Pattern.
2-The formation of the Evening Star Candlestick Pattern in the Resistance zone can signify the reverse of XRP.
3-The formation of the Bearish Gartley Harmonic Pattern can also be another sign of the decline of XRP.
4-According to Elliott wave theory, XRP seems to be completing the main wave 4.
I expect XRP to break the lower line of the Rising Wedge Pattern, which should drop to at least $2.38. If the Support line is broken, the next target will be the Support zone($2.25-$2.17).
⚠️Note: If XRP manages to break the Resistance zone($2.63-$2.50), we can expect an XRP pump.⚠️
XRP Analyze (XRPUSDT), 1-hour time frame⏰.
🔔Be sure to follow the updated ideas.🔔
Do not forget to put Stop loss for your positions (For every position you want to open).
Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post.
Please do not forget the ✅' like'✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Trade active
The analysis is still valid.
XRP started to decline again after the formation of the Bull Trap, and the trade was activated after the break of the Uptrend line.
The first target can still be $2.38.
If the support lines break, we have to wait for more fall.
Trade closed: target reached
First Target Done, I closed my position.
Note
Second Target Done
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