XRP/USDT – 1H – BUYThe currency pair Ripple/Tether (XRP/USDT) goes from the bullish trendline down.
The bearish trend down to the next support at 1.995400000 is expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 2.452200000 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Hammer’ candle chart pattern is existing. The candles form ‘Hammer’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Hammer’ going up is 60% (Bull Market) & 59% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 2.909200000 |
| 2nd High | 2.728100000 |
| Next High | 2.452200000 |
| Current Price | 2.386500000 |
| Next Low | 1.995400000 |
| 2nd Low | 1.900000000 |
| 3rd Low | 1.429200000 |