Since Feb 10- 2018 Ripple is in a triangle pattern.
On the downside a swing trend line at 0.86$ and on the upside a falling trend line.
It has tested three times the upper side and so forming a new bearish sign: 3 descending peaks!
The current support / downside of the triangle is also the neckline of this pattern.
So there are two bearish patterns for Ripple.
If it breaks through the support then it is expectable that it falls till the next swing trend line at 0,70$.
ADX is showing negative momentum, RSI is weak.
buy: if Ripple breaks out fo the triangle to the top, aiming fib retracement at 78.6% (downgoing fib) which is also a swing trendline.
the second aim to reach is the fib retracement 38.2% (upgoing fib).
stop: below the actual support
re-invest: lower blue rectangle
take-profit: upper blue rectangle
On the downside a swing trend line at 0.86$ and on the upside a falling trend line.
It has tested three times the upper side and so forming a new bearish sign: 3 descending peaks!
The current support / downside of the triangle is also the neckline of this pattern.
So there are two bearish patterns for Ripple.
If it breaks through the support then it is expectable that it falls till the next swing trend line at 0,70$.
ADX is showing negative momentum, RSI is weak.
buy: if Ripple breaks out fo the triangle to the top, aiming fib retracement at 78.6% (downgoing fib) which is also a swing trendline.
the second aim to reach is the fib retracement 38.2% (upgoing fib).
stop: below the actual support
re-invest: lower blue rectangle
take-profit: upper blue rectangle