Ripple (XRPUSD): How to profit from the 4hr tf chart pattern

in #cryptocurrency • 6 years ago

Previous post (https://coinanalyst.investments/2018/07/24/xrp-usd-analysis/) explored the different 1 hour time frame chart patterns in Ripple (XRP) and what their possible implications. The current post does the same except that a 4 hour time frame is presented.

The meandering price action in Ripple (XRP) is captured from January 28, 2018 to present date with a falling wedge (diagonal), which is ideally bullish.

XRP chart.png

Price level marked on the chart (~$0.47) is considered a conservative entry point into a long (buy) position as this would see the price of Ripple break out of the falling wedge, but also close above the previous consolidation between ~$0.42 and $0.47.
An earlier (less conservative) approach to going long (buy) would seek price entry prior to breakout above the current wedge.

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6 years ago in #cryptocurrency by
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