XRP/USDT – 1H – SELLAdditionally a ‘Double bottom retreat down’ chart layout is detected. The chart picture shows ‘Double bottom retreat down’. this is a bearish pattern signal. The currency pair is likely to fall.
The currency pair Ripple/Tether (XRP/USDT) moves from the ascending trendline down.
A bearish descent downwards to the next support at 3.163000000 is certain.
Caution: A possible trend reversal in the direction of the resistance line at 3.238700000 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Northern Doji’ candlestick pattern is found. The candles form ‘Northern Doji’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 3.578700000 |
| 2nd High | 3.265100000 |
| Next High | 3.238700000 |
| Current Price | 3.230000000 |
| Next Low | 3.163000000 |
| 2nd Low | 3.156400000 |
| 3rd Low | 2.998100000 |
3.238700000 – 3.218100000 – 3.265100000 – 3.163000000 – 3.156400000 – 2.998100000 — 52.008377657755 – 48.056015033399
Trading Signals: CRYPTO – XRP – XRP/USDT – USDT – Northern Doji – Double bottom retreat down –