Will it follow green trend line once more or head south following the red ?
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Minutes after I posted my comment, XRP made a sharp move indicating its current trend and confirmed the bottom red trend line.
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Trend has been once more confirmed as downwards. If XRP stays between current red trend lines a possible breakout to the north may happen in June around 0.27 levels (at the crosspoint of two intersecting red lines)
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XRP is trying to jump to the green lane. Any close over 0.30 will switch its direction.
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When you load new bars, you can see that yesterday XRP just landed on the green line but could not keep above it. This is both because of overall market weakness and the lack of interest from major bullish investors.
There is still hope as XRPBTC rate recovered after the sell frenzy and managed to keep its short term increase trend. Nevertheless as we know XRP its normal increase pattern is generally a sudden burst to the North rather than small cautious steps so this short term uptrend may also be temporary.
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When we load new bars, we will see that that (after the NASDAQ announcement) XRP is back on the green lane. This is good news. However it has bounced back from mid-red trend line which is not good. Soon it has to choose which path to follow.
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XRP still between green and red trend lines. It will eventually stop following one in a couple of days as the lines will cross soon.