Recurring consolidation before another Channel Down. Short.

2 Jul 2018

As seen on the chart, Ripple entered again a Rectangle on 4H (neutral RSI, STOCH, CCI, Highs/Lows), on a recurring Channel Down/ Rectangle pattern sequence within the dominant 1D Channel Down (RSI = 35.326, MACD = -0.041, Highs/Lows = -0.0113, B/BP = -0.0444). The price is still trading above the 1D Channel Down median (red dotted line), which technically makes the downtrend less aggressive on the longer term. This is an indication of a possible slowdown on XRP, but not before it reaches our target set: 0.4000 and 0.35277.