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XRP/USD Correction/Consolidation after new ATH

BITSTAMP:XRPUSD   Ripple / Đô la Mỹ
Wow! What a show! XRP blew out the top of the channel (as mentioned 12/26) with volume on its way $2.47. Steeper channel formation in progress (old trendchannel is now in grey, new in green). We appear to be in a low volume range trading/consol pattern now (pretty wide range). This will change after the holidays once volume on exchanges picks up.Lower green trendline needs another touch to be considered a true trendline . The fact that I had to redraw to a steeper trendchannel has me pondering whether the trend is turning parabolic.

On a non-technical note... most of the larger exchanges still have not verified all the new account requests from a month ago (when XRP/USD was in the .20's). The masses of new entrants are having a very hard time getting access to even start buying. I don't think this bull is over yet, but if we do have a selloff, support lines are the blue hashed lines on the chart.

Have a happy new year!
The new green channel is the log channel. Best to change your chart to log to see the channel better.
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protechtor JohanJanssens
@JohanJanssens, Thanks Johan. I have a log chart as well. Will start posting that one as well.
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@protechtor, You are most welcome. I have been trading of the log chart, gives a much better view so far of the channel we are in.
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Yep the price has been accepted and now we are just waiting for the big guns to suck it up and accept a higher price to buy in at, breakout at anytime probably Thursday.
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protechtor tomlilley81
@tomlilley81, Speaking of big guns... an interesting conversation here from two pro traders. Pure fake pumping? Or something more...
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gaiseric protechtor

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tomlilley81 gaiseric
@gaiseric, Buy the rumour sell the news bro
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