XRP/USDT – 4H – SELLThe currency pair Ripple/Tether (XRP/USDT) goes from the descending trendline downwards
A continuation of the bearish trend downwards to the next support level at 2.196000000 is likely expected.
Caution: A possible reversal of the trend in the direction of resistance at 2.327100000 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Resistance Level’ indicator signal is existing. The indicator shows ‘Resistance Level’. this is usually a bearish chart scenario. The currency pair could go down.
Then a ‘Three Inside Down’ candlestick chart pattern is found. The chart forms ‘Three Inside Down’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Inside Down’ heading down is 60% (Bull Market) & 63% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 2.337900000 |
| 2nd High | 2.337000000 |
| Next High | 2.327100000 |
| Current Price | 2.271500000 |
| Next Low | 2.196000000 |
| 2nd Low | 2.078200000 |
| 3rd Low | 1.908300000 |
2.327100000 – 2.229600000 – 2.337000000 – 2.196000000 – 2.078200000 – 1.908300000
Trading Signals: FOREX – XRP – XRP/USDT – USDT – Three Inside Down – Rising Wedge Chart Pattern