Although XRP/USD is trading 2% lower today the structure is still bullish. The channel pattern is almost perfect and a break could signal some downside pressure. The outstanding thing on the four-hour chart is how perfect the channel formation is. The bottom of the channel is being tested at the moment and it seems like it could hold looking at the shadows on the candles right now. We are currently in our third wave higher and the 0.2828 level is holding firm. If the level breaks the next support on the way down is 0.2649. The psychological 3.000 level on the upside is the key resistance point but as overall crypto sentiment is weak today it is hard to see a high probability of a test. The relative strength index (RSI) indicator may be showing signs of a bullish failure swing. This is when the waves make a higher low and the indicator makes a lower low wave. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street Crypto News share Read Next Wall Street sinks on US data and trade war angst FX Street 4 years Although XRP/USD is trading 2% lower today the structure is still bullish. The channel pattern is almost perfect and a break could signal some downside pressure. The outstanding thing on the four-hour chart is how perfect the channel formation is. The bottom of the channel is being tested at the moment and it seems like it could hold looking at the shadows on the candles right now. We are currently in our third wave higher and the 0.2828 level is holding firm. If the level breaks the next support on the way down is 0.2649. The psychological 3.000 level… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
