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XRP chart analysis: Falling wedge chart pattern

Previous XRP chart analysis explored the different 1 hour time frame chart patterns and their possible implications. The current post does the same, except that a 4 hour time frame is presented for Ripple.

XRP chart analysis using a 4 hour timeframe

The meandering price action in Ripple is captured from January 28, 2018 to present date with a falling wedge (diagonal), which is ideally bullish. Price level marked on the chart (~$0.47) is considered a conservative entry point into a long (buy) position as this would see the price of Ripple break out of the falling wedge, but also close above the previous consolidation between ~$0.42 and $0.47.

An earlier (less conservative) approach to going long (buy) would seek price entry prior to breakout above the current wedge.

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1 thought on “XRP chart analysis: Falling wedge chart pattern

  1. […] Litecoin chart with free analysis is provided here. Also check out the  XRP chart analysis here. […]

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