XRP/USDT – 1H – SELLFurthermore a ‘Rising Wedge Chart Pattern’ chart pattern is discovered. The formation shows ‘Rising Wedge Chart Pattern’. which is a negative pattern signal. The currency pair is likely to fall.
The currency pair Ripple/Tether (XRP/USDT) jumps from the bullish trendline down.
The bearish trend down to the next support at 3.403800000 is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 3.557900000 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Northern Doji’ candlestick pattern is found. The chart shows ‘Northern Doji’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 3.660700000 |
| Next High | 3.557900000 |
| Current Price | 3.558100000 |
| Next Low | 3.403800000 |
| 2nd Low | 3.354700000 |
| 3rd Low | 3.343900000 |
3.557900000 – 3.485500000 – 3.660700000 – 3.403800000 – 3.354700000 – 3.343900000
Trading Signals: FOREX – XRP – XRP/USDT – USDT – Northern Doji – Rising Wedge Chart Pattern