Looking at our trend timeframe we see price respecting it’s descending wedge pattern, stochastic rsi showing momentum remains in favor of bears. A weekly close above our trendline and expect XRP to rocket to 8000, however if reject at the 5000 level expect a sell off towards 4000.
Shifting over to our pattern timeframe we get a better look at our descending wedge pattern, stochastic rsi showing momentum in favor of bulls however at a temporary pause. A daily close above 5400 indicates a higher high is on the way, however if rejected at this level expect XRP to fall towards 4000 and leaving us with a double bottom.
