The pair Ripple/Tether (XRP/USDT) jumps from the bullish trendline downwards
A descent down to the next support level at 1.0793 is expected.
Caution: A possible counter-trend in the direction of the resistance zone at 1.1182 is also possible.
Consider stop-loss settings accordingly.
Besides a ‘Bearish Engulfing’ candlestick chart pattern is discovered. The chart forms ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.1354 |
| 2nd High | 1.1302 |
| Next High | 1.1182 |
| Current Price | 1.084900000 |
| Next Low | 1.0793 |
| 2nd Low | 1.0535 |
| 3rd Low | 1.0451 |
1.1182 – 1.1182 – 1.1302 – 1.0793 – 1.0829 – 1.0996 —
1.087800000 – 1.087600000 —
43.214399730424 – 44.587393533655 —
– —
1.1182 – 1784215800
Trading Signals: CRYPTO – XRP – XRP/USDT – USDT – Bearish Engulfing – Rising Wedge Chart Pattern – –