Previous TA is done with success. So now, I like to introduce you something, upcoming new at DAILY chart . But I will mention also weekly and monthly timeframes. So you won't see everything here.
Bullish : 1. From July, Ripple is forming a U shape, pink dashed bottoming pattern finished by panic sell while MACD created a supportive divergence - holding for 3 months. 2. Potential morning doji star reversal pattern at MONTHLY timeframe ( conslusion confirmed at the end of October ). 3. Movement in green bullish channel and holding daily pivot with 50EMA average confirmed yesterday with daily touch. 4. XRP/BTC pair also alocating the same bullish sentiment with macro uptrend indication ( 3 white soldiers pattern at weekly timeframe with signal at MACD ).
Bearish: 1. Bitcoin could fall and drag down whole market and capitalization. 2. Green historical support channel could be broken, due to potential daily evening doji star, which is not closed yet, so nobody knows for sure. 3. Green local channel could form falling wedge with cca 25% downside target & maybe kill historical structures movement.
*This is not a financial or investment advice. Never trade/invest, by my personal ideas.
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Correction * 3. Green local channel could form RISING wedge with cca -25% downside target & maybe kill historical structures movement.
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Nice channeling .
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Here's view with BTC pair.
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Here's update. I like to see XRP following channel further and hold between 2 and 2.272 FIBO . Then test ema200 green. Break and holding above this average will be important.
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Did you notice breakout above rising wedge ? This is pretty silent and importat at once... Quite bullish to me, IF confirm and hold .
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I decided to try reamster this channel to make 3 points of contact at support. Let's see, IF Ripple will hold.
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This is breakdown. While pivot with bottmipink-dashed bow holding.
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This breakdown was the sell signal for traders. Now, we could make a wider, macro channel .
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This time, after rejected at green ema200 . Ripple made a consolidation zone below , like point of control / orange / . Let's monitor what will happen. This will be key for the next direction.
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Today, we could make a suppport from 2.272 retracement, what means sometnihg more close to ema200. Ripple has not tested 200 average multiple times very long. Every test is resistance weaker.