XRPUSD: Getting ready to test trend line

31 thg 12, 2017

After the last chart I did on XRP, based on comment by @Petitboy, I have redrawn the upper pennant line to reflect the entry point of the pennant being the high price coming down to it. This, of course, makes it likely bearish, and almost immediately it broke through the bottom of the pennant to confirm.

Now, I have drawn a red trend line. Will we find support at this level? Or has the price risen too far, too fast? If it does break down through this trend line, we will hopefully find support at around 1.56 or 1.55.