XRPUSD Inverted cup and handle
Depending on how you see it, this could be an inverted cup and handle, or a full head and shoulders (but with a very large left shoulder!)
Based on the price action after the cup, we'd be looking at a drop to around 78c. In fact looking further back to mid December, 75c was a sticking point, so that could be closer to the mark for this next drop.
Also interesting that we're now bumping up against overhead resistance of the 50MA so that could be applying some downward pressure too.
Interesting to see how this plays out.
Based on the price action after the cup, we'd be looking at a drop to around 78c. In fact looking further back to mid December, 75c was a sticking point, so that could be closer to the mark for this next drop.
Also interesting that we're now bumping up against overhead resistance of the 50MA so that could be applying some downward pressure too.
Interesting to see how this plays out.
Aviso legal
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