XRP/USDT – 1H – SELLThe currency pair Ripple/Tether (XRP/USDT) jumps from the descending trendline down.
A continuation of the bearish trend downwards to the next support at 2.176100000 is expected.
Caution: A possible counter-trend in the direction of the resistance zone at 2.293800000 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Bearish Engulfing’ candlestick chart pattern is discovered. The candles form ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 2.909200000 |
| 2nd High | 2.728100000 |
| Next High | 2.293800000 |
| Current Price | 2.190000000 |
| Next Low | 2.176100000 |
| 2nd Low | 1.900000000 |
| 3rd Low | 1.429200000 |
Download XRP/USDT Signal Image
Trading Signals: CRYPTO – XRP – XRP/USDT – USDT – Bearish Engulfing