1. Pure consolidation: We can see price action before the Swell conference. Looking at daily charts, consolidation from both buyers and sellers is spot on - so everything is good to go. If anything, we go above .30.
2. We are seeing the end of a very well fitted 'descending wedge' - this is what I am currently seeing/comparing with the previous months of Ripple. Please refer to the chart I created. Looks identical. Momentum is showing, and the line has broken through the channel.
3. My guess is that we will steadily decline towards the .17 mark, before it starts to go up, and show strong signs of a bullish trend. Ripple is already strong on the support and resistance levels around 0.19. Now, it will either bounce down again and hit new support levels of .15. Either case, the bearish trend is in my opinion, finished and will be starting a new bull trend.
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2. We are seeing the end of a very well fitted 'descending wedge' - this is what I am currently seeing/comparing with the previous months of Ripple. Please refer to the chart I created. Looks identical. Momentum is showing, and the line has broken through the channel.
3. My guess is that we will steadily decline towards the .17 mark, before it starts to go up, and show strong signs of a bullish trend. Ripple is already strong on the support and resistance levels around 0.19. Now, it will either bounce down again and hit new support levels of .15. Either case, the bearish trend is in my opinion, finished and will be starting a new bull trend.