Bullish Pennant on $XRP/$USD. Short-Term

Jan 7, 2018

In the words of DJ Khaled , "anotha' one."

We got another Bullish Pennant on the XRP/USD 1H Chart.

With highs meeting downtrend resistance and Higher Lows showing strong Bull sentiment. Short Term goal is $2.9 - $3 with expansion to Hi of $3.30 later this week. #XRP #Ripple

Jan 8, 2018

Trade active

The movement turned against us for the short term, looks like the slightly lower highs were also indicative of a tight squeeze.

We found support at $2.50 and I'm fairly confident our target is still intact within the next 12 hours.

Jan 8, 2018

Note

$2.20 is the most recent support tested, with a strong rejection.

If we break $2.20, expect to test $2.10, $2.20, with a complete possible retrace of 50% from $1.80 - $2.00.

We saw a 50% retrace on XRP/BTC during BTC's crash on December 20th.
Expect a potential similar correction if trends continue.